Numbers and US

Story that numbers tell us

Posts Tagged ‘Bing Travel

When to buy flight ticket

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Sometime or other, we all , as customers, have been irritated to know that our friend/neighbour has shelled out less monies than us for same product bought through same channel.

We, as customers, felt cheated. In fact, when dynamic pricing was first introduced, consumers considered it a rogue method of doing business. Consequently, businesses lost business ( Though at that time also airlines were doing dynamic pricing. This could be explained as  a) Double standard of business morality set by consumers. or b) morality based on product (dynamic morality).

Currently, dynamic pricing is prevalent in number of industries. Airlines, hotels, e-business, Insurance, banking all rely on this model. There are different models to calculate the price; most basic of those is inventory based approach. For airlines, at broad level it would be function of seats available and number of days left in journey.

Anyway, the purpose of this entry is to introduce a start-up that came forward to help customer to decide when to buy airline ticket. Though the company is not very new, I came across it recently. A great idea that solves a real life problem and makes profit. The company is Live search farecast/ They have patented their model to predict price. Last year, microsoft acquired farecast, and now it’s Bing Travel.


Written by SK

September 15, 2009 at 6:50 am

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