Farelogix and Florida International University Establish Airline Data Analytics and Decision Sciences Program
Farelogix invests in the future of airline offer optimization with advanced artificial intelligence and machine learning training program.
MIAMI – April 25, 2018 – Farelogix and Florida International University (FIU) today announced the formation of the new Data Science for Airlines Informatics (DSAI) program, an advanced training program focused on airline data analytics and decision sciences. Housed at FIU as part of the university’s School of Computing and Information Sciences, the program will be dedicated to the study and implementation of advanced predictive analytics for the airline industry, using machine learning and artificial intelligence (AI). Graduate students will work collaboratively with the Farelogix data and analytics team to develop new data models for optimizing airline revenue management and generating dynamic offers. The program will open in May 2018.
“Incorporating AI, machine learning, and predictive analytics into airline revenue management and offer creation is the new frontier in air commerce,” said Jim Davidson, CEO of Farelogix. “This joint program with FIU – the fourth largest producer of computing talent in the US – will conduct world class research, develop and curate best practices and standards, and prepare data science graduates for work in the airline industry. It’s an important step in positioning Farelogix customers and the wider airline industry to take advantage of dynamic offer optimization.”
Students working in the DSAI program will use machine learning and AI to explore how the vast amounts of data being generated in the airline industry can be used to understand trends, predict behaviors, and take autonomous action to create and deliver high value airline offers. This activity will focus on areas such as fare bundles, personalized ancillary bundles, and seat offers, at price points that are both compelling to customers and optimized for the airline.
“Airlines represent an untapped market for data science, and few university programs focus on the big data challenges and opportunities of this industry,” said S.S. Iyengar, Ryder professor of computer science and director of the School of Computing and Information Sciences within the College of Engineering & Computing at Florida International University. “By partnering with Farelogix, we are preparing our data science graduates to be at the forefront of further innovation in the airline industry. This program also supports our undergraduate and graduate research initiatives and will provide new job opportunities for skilled students.”
According to the FAA, the airline industry represents a $1.6 trillion domestic market that supports approximately 10.6 million jobs and has 5.1% impact on national GDP.
DSAI research and development will focus on identifying the best “intelligent inputs” for airline-controlled offer engines such as those built by Farelogix (i.e., FLX Shop & Price, FLX Merchandise, FLX Availability Calculator, and FLX Schedule builder). The underlying architecture of these engines enable airlines to instantly create, modify, and manage offers in a number of ways, using a range of data inputs. These data inputs can be manually determined by a human; calculated by a rules engine; or derived using sophisticated and highly segmented machine learning outputs that leverage historical data, propensity algorithms, as well as insights into what’s happening in real time (e.g. search). This strategic application of data science will play an integral role in the optimization of airline offer and revenue management, and will be a priority for the work done by Farelogix and FIU.
“Our offer engines were purpose built to support the industry’s evolution from rules to science,” said Davidson. “Now, with the DSAI program, we can accelerate the strategic application of data science, machine learning and AI technologies to airline pricing models. This is game-changing for the industry.”
About FIU Florida
International University is classified by Carnegie as a “R1: Doctoral Universities – Highest Research Activity” and recognized as a Carnegie Community Engaged university. It is a public research university with colleges and schools that offer bachelor’s, master’s and doctoral programs in fields such as business, engineering, computer science, international relations, architecture, law and medicine. As one of South Florida’s anchor institutions, FIU contributes almost $9 billion each year to the local economy. The university received honors in all categories of The Chronicle of Higher Education’s “2017 Great Colleges to work for.” FIU graduates are consistently among the highest paid college graduates in Florida and are among the leaders of public and private organizations throughout South Florida. FIU is Worlds Ahead in finding solutions to the most challenging problems of our time. FIU emphasizes research as a major component of its mission with multiple state-of-the-art research facilities including the Wall of Wind Research and Testing Facility, FIU’s Medina Aquarius Program and the Advanced Materials Engineering Research Institute. FIU has awarded more than 220,000 degrees and enrolls more than 54,000 students in two campuses and centers including FIU Downtown on Brickell, FIU@I-75, the Miami Beach Urban Studios, and Tianjin, China. FIU also supports artistic and cultural engagement through its three museums: Patricia & Phillip Frost Art Museum, the Wolfsonian-FIU, and the Jewish Museum of Florida-FIU. FIU is a member of Conference USA and more than 400 student-athletes participating in 18 sports. For more information about FIU, visit http://www.fiu.edu/.
Farelogix is a recognized leader and innovator in the travel industry. Its groundbreaking technology is modernizing the airline commerce and distribution landscape, and is used by several of the world’s leading airlines. The company’s flagship Airline Commerce Gateway is a technology platform comprised of fully integrated and optimized components for airline-controlled distribution, shopping, pricing, merchandising, and retailing across channels. Recognized for its pioneering role in creating the distribution innovation known today as NDC, Farelogix now provides NDC (Level 4 certified) distribution for more than 20 airlines with connectivity to 10 major PSS systems. The company’s “Offer and Delivery Engines” (shopping/pricing, merchandising, availability calculation, schedule building, and NDC API) enable airlines to create, control, and deliver their offers independent of their PSS or GDS. These engines also represent the industry’s only shopping and merchandising suite designed for extreme high volume searching with infinite scalability in alignment with the NDC vision. Farelogix is headquartered in Miami, Florida, with offices in Toronto, Canada; and Dubai, United Arab Emirates. For additional information, visit www.farelogix.com.