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Thursday, August 1st, 2024 6:28 PM

PROS Platform Travel Summer Release 2024

We're excited to introduce the latest enhancements in the PROS Platform! Here we share a highlight of the new product features designed to enhance your pricing and revenue strategies: from streamlined ancillary offer creation to innovative AI-powered pricing solutions.   

New product features and enhancements: 

 

  • Offer Optimization: Revenue Management 
  • Offer Optimization: Real-Time Dynamic Pricing 
  • Offer Creation: Shopping and Pricing 
  • Offer Creation: Ancillary Merchandising 
  • Offer Creation: NDC 
  • Offer Marketing 

 

 

Offer Optimization: Revenue Management 

 

NEW! Forecast Features in Revenue Management 

With COVID-19 data no longer influencing the historical window, now is an ideal time to reset forecasts and capture new passenger behaviors. This reset helps rebuild analyst confidence and allows airlines to leverage advanced features for improved revenue management strategies. 

 

  1. DCP Segmentation: Allows airlines to define groupings for Departure Control Points (DCPs), ensuring data sharing within similar behaving DCPs. This results in better forecasts due to more accurate and intuitive ways of sharing data across DCPs. This feature currently supports Traditional forecasts, with plans to extend it to Willingness-to-Pay (WTP) in the future. 

  2. Advanced Customer Choice Model: Improves demand distribution by using historical observations and true passenger behavior. This allows for simpler time of day windows in high frequency local O&Ds. When travel times are different, the Advanced Customer Choice Model allocates distribution percentages based on actual past behavior, providing more detailed and accurate forecasts rather than giving more weight to shorter travel times.  This enhancement has shown a 25% improvement in Mean Squared Error, especially benefiting high-frequency O&Ds and scenarios where passengers may not prefer the shortest travel time. 
  3. Forecast Accuracy in the Forecast Workflow: Offers three data views: bar chart, scatter plot, and table view. Available for both Traditional and Willingness-to-Pay forecasts, this feature allows analysts to compare different forecast entities and identify areas for improvement. While the tool provides valuable insights, analysts must consider external factors that can impact accuracy, such as bid price influences and class closures. 
  4. Willingness-to-Pay: Introduces an innovative approach that forecasts demand as a function of price rather than class, preventing revenue dilution through optimized pricing strategies. WTP enhances forecast accuracy by capturing price-sensitive behavior, better accommodating seasonal trends, and combating the spiral-down effect. The feature also increases user efficiency by reducing the need for manual pricing strategies, allowing analysts to influence price elasticity and volume parameters directly. 

 

Learn more about Revenue Management's new features here.

 

 

Offer Optimization: Real-Time Dynamic Pricing 

 

We are excited to introduce several new features for RTDP, designed to enhance dynamic pricing control, stay requirements, reporting capabilities, transformed fare cleanup, and cascading POC calculations. Additionally, we've improved the layout of the calculation details to enhance readability and comprehension. These enhancements aim to provide airlines with greater flexibility, precision, and insights into their pricing and revenue management strategies. 

Learn more about RTDP new features here. 

 

 

Offer Creation: Shopping and Pricing 

 

Explore the latest advancements in Offer Creation, focusing on shopping and pricing capabilities. These enhancements are designed to streamline processes and provide more flexibility in fare management, ensuring airlines can deliver tailored and competitive offerings to passengers. 

  • Private Fares Pricing per GDS OfficeID: Streamlines the integration of GDS aggregators and airlines’ NDC channels. PROS now supports private fares pricing based on the Agency Office ID, which simplifies the integration between GDS aggregators and airline NDC channels, alleviating the need for airlines to develop complex systems to identify these codes for each Agency Office ID. 

  • Branded Fares Combination: Enables combining different fare brands per travel bound for more flexible options. By pre-defining specific markets and combinable brands, airlines can price travel bounds using fares from different fare brands, enhancing their offering to passengers. 

  • Categories 31 and 33 System Assumption Change: An industry-driven change of the assumption for the absence of repricing fully automate ticket servicing if no specific rules are coded for a fare. If applicable rules are coded, they will govern the change/refund process. 

 

Learn more about Shopping and Pricing new features here. 

 

 

Offer Creation: Ancillary Merchandising 

 

Pros introduce advancements in ancillary merchandising, focusing on streamlined management and flexible pricing adjustments. These updates are designed to enhance the efficiency and agility of ancillary offerings, allowing airlines to better serve their customers and optimize revenue opportunities. 

 

  • Ancillary Catalog Import/Export: Allows quick pricing adjustments and cross-instance operations through CSV format and enables users to import and export non-ATPCO services and conditions. This facilitates quick and flexible pricing adjustments, streamlines general ancillary management, accelerates sales campaign setups and customer onboarding and allows seamless movement of ancillaries and rules between different environments. 

 

 

Offer Creation: NDC 

 

The Offer Details Retrieval Service enhances the end-to-end offer-to-order flow when different systems manage these processes. This service ensures offer integrity and accuracy throughout the conversion from offer to order, supporting JSON API and aligning with the IATA NDC standard for Offer-to-Order communication. It provides all necessary data elements for fulfillment and servicing by Order Management, including dynamically priced offers. 

 

  • Offer Details Retrieval Service: Ensures seamless conversion from offer to order, maintaining offer integrity and accuracy. 

 

Learn more about Offer Creation's new features here. 

 

Offer Marketing:  

 

Discover the latest advancements in offer marketing, focusing on enhancements that improve user experience, streamline operations, and expand advertising capabilities. These updates are designed to provide airlines with the tools they need to execute more effective marketing campaigns, enhance customer engagement, and optimize revenue opportunities. 

 

DataCore Enhancements: 

 

  • New Fare Endpoints: new Travel Class and Awards endpoints to enhance fare comparison capabilities. These endpoints will allow users to compare fares across travel classes and between cash and award options in a single view, significantly improving the user experience. 

  • Various Filtering Options: Improves user experience by providing flexible fare evaluation tools. 

 

airTRFX: 

 

  • Custom Pages by Site Edition: Allows market-specific page creation for targeted marketing campaigns addressing the concern of having to create pages across all markets, which improves SEO and customer retention.  

  • The integration of TRFX native modules into campaign assets using variables is now enabled and a new sorting filter provides the ability to sort fares based on various criteria, enhancing user experience. 

 

airModules: 

 

  • Flights Search Panel: A new sticky version premium feature keeps the booking option visible during the user’s session, improving the user experience and increasing conversion rates. 

  • Redemption Units Filter: PROS introduces filtering capabilities for redemption units, allowing users to switch between offers in cash and miles/points, supporting loyalty-focused products and upsell opportunities. 

 

airWire: 

 

  • Catalogs for Vacation Packages: Enabling airlines to promote package deals and hotel promotions using catalogs in XML or Spreadsheet formats. AirWire Catalogs for Origin Ads add geolocation data to airline catalogs, enhancing ad targeting and relevance. 

  • AirWire for TikTok: Expands advertising reach and enhances targeting capabilities with potential support for carousel and video ads. 

 

airSEM: 

 

  • Bulk Upload/Download for Locations & Routes: Reduces the time and effort required to add missing location data. The refreshed UI for the Locations & Routes module enhances the ability to identify and update missing data. 

 

Data Analytics: 

 

  • airTRFX Recommendations: New data-driven recommendations for enhanced product engagement. The recommendations page has been redesigned for improved user experience. The monthly activity email has been revamped with a visually captivating layout and additional data for more comprehensive insights. 

  • NEW! Google Analytics 4 Migration: Aligns dashboards with current analytics standards. 

 

Marketplace: 

 

  • Website Revamp and Improved Product Discoverability: Enhances navigation and content accessibility. 

 

Learn More about Offer Marketing new updates here. 

 

Explore these updates to optimize operations and maximize revenue with PROS Platform's innovative solutions. 

 

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