Driving bottom line results through efficient knowledge management in air fare data transformation and distribution


Abstract

Economic uncertainty, globalisation and increasing market complexity drives greater commercial pressure on travel management companies and retailers of all sizes.

The delivery of reliable air fares data and their transformation into agency “wisdom” creates a value chain determining greater market understanding, widening the agency’s sphere of confidence and a degree of control and certainty enabling successful operation in market places previously considered inaccessible.

The challenge is to improve bottom line performance and agency competitive advantage through best practice in air fares data management, its rapid application and delivery to point of sale.

Effective knowledge management reduces uncertainty and restores control. The theory behind the practice.


Increasing globalisation and unrelenting economic pressures are driving travel agencies to search harder and harder for areas of competitive advantage, one such area lies within the over looked area of knowledge management, aptly summarised in the comment:-

“The only thing that gives an organisation a competitive edge – the only thing that is sustainable – is what it knows, how it uses what it knows, and how fast it can know something new.”
(Larry Prusak, management writer, IBM 1996)

The rate at which new knowledge is assimilated and applied presents the agency with deeper insights and control over its environment allowing it to develop new distribution channels and support them with well informed and confidently resourced staff.

For a travel agency, the most valuable source of new knowledge comes in the form of access to air fares which form the life blood of customer engagement and lies at the heart of the majority of all earnings. So, with greater expression over its airfare inventory, the agency reaches out confidently beyond its internal environment to establish decisive control in previously challenging market places.

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