A machine learning approach to itinerary-level booking prediction in competitive airline markets

Understand

Demand forecasting is extremely important in revenue management.

• After all, it is one of the inputs to an optimisation method which aim is to maximize revenue.
• Most, if not all, forecasting methods use historical data to forecast the future, disregarding the "why".
• In this paper, we combine data from multiple sources, including competitor data, pricing, social media, safety and airline reviews.