The company has released two products aimed at optimising revenue opportunities
Sabre has announced the release of the first two products in the company’s Retail Intelligence suite. Sabre Air Price IQ and Sabre Ancillary IQ facilitate dynamic pricing of airfares and ancillaries.
The new product suite enables airlines to deliver more personalised travel offers. Powered by Sabre Travel AI, which integrates Sabre technology with Google Cloud’s AI technology and advanced machine-learning services, Retail Intelligence will allow airlines to dynamically provide offers to travellers based on their search preferences, marketplace insights and purchase probability.
Speaking about the new launch, Sabre Travel Solutions chief product officer Wade Jones said: “We are facing a rapidly changing world and the travel ecosystem looks very different than it did just 18 months ago.
Traveller expectations for relevant and personalised offers are growing, and airlines are more focused than ever on becoming sophisticated retailers.
“Relying on traditional strategies based on historical data patterns isn’t enough – airlines need intelligent solutions driven by artificial intelligence and machine learning. This is what we are offering with Sabre’s Retail Intelligence suite of products.”
Sabre Air Price IQ increases pricing agility and precision by allowing airlines to adapt quickly to changing marketplace conditions. The product supports an airline’s efforts to maximise revenue opportunities.
In addition, Sabre Ancillary IQ uses machine learning to present ancillary offers based on multiple factors, including real-time shopping data to increase incremental revenue opportunities.
The products are designed to increase airlines’ incremental revenue of up to 3% when combined with upcoming products being added to the Retail Intelligence suite in 2022.
Sabre Labs and Product Strategy president Sundar Narasimhan added: “As travel retailing becomes more complex to meet increasingly sophisticated consumer expectations, the rules-based technology in use across the industry today will no longer deliver satisfactory results.
“To truly modernise travel retailing, the industry requires intelligent systems that allow for continuous learning and scaling at speed. At Sabre, we’re focused on equipping our customers with those AI-based solutions that will modernise the way we shop, book and experience travel.”
For more information, visit www.sabre.com