|Press Release Date||05.10.2017|
Philipp Goedeking, the Founder and Managing Director of Avinomics, will speak at the Wings of the Future Forum on November 1st. His presentation titled as “Big Data, competitors and risks” is meant to explain how Big data will change and intensify competition across the sector and why these changes are so significant.
The airline industry is one of the most – if not the most – transparent industry in terms of data availability. Flight schedules, airport statistics, governmental, financial, and macro-economic data make for a level of transparency unheard of in other industries. The limitation so far has been the lack of technology to analyze these vast amounts of data – and to do so in a reasonable amount of time.
“Big data” methodologies are radically changing this picture:
- airlines nowadays can better analyze their markets, and adapt earlier and in more targeted ways to changes in demand and competition
- competitors, industry analysts, and governmental authorities now have the ability to assess strengths, weaknesses, subtle changes in strategic direction, or market dominance much earlier and much more accurately than ever before.
The biggest change we are now seeing, however, is not about performing these tasks more quickly, but about enabling new business models. To give an example, big data and machine learning techniques today enable the quantitative assessment of the competitive positioning of airlines, and the tracking of trends with unprecedented granularity and actuality. Such measuring and benchmarking of competitive positioning of airlines in turn enables new strategies to trade airline stocks.
Such modern methodologies also permit the assessment of competitive (hence forward-looking) risks in areas such as aircraft financing where historically backward-looking data prevailed.
And here is one thing we can already be certain of: Big data in aviation will significantly change and intensify competition across the sector.
The 15th International Aviation Forum “Wings of the Future” will be held on November 1-2, 2017 in Moscow in Renaissance Moscow Monarch Center.
It includes 5 conferences and Young Talent Industry Award “35 under 35” to be conducted:
- November 1st : Wings of the Future + Young Talent Industry Award “35 under 35”
- November 2nd: conferences Aircraft Finance & Lease Russia& CIS, Regional Aviation in Russia & CIS, Business Aviation Forum, Innovations in MRO.
MEET MORE THAN 50 AIRLINES FROM RUSSIA/CIS AT THE FORUM IN 2017
“Wings of the Future 2017” is produced by ATO Events in partnership with the Russian Air Transport Operators Association.
Sponsor of WoF2017 is Rosneft Aero. Official IT company is AMADEUS. Sponsorship support is provided by Embraer, Lufthansa Consulting, CFM, Sirena Travel, SITA, Rolls-Royce, Fokker Services.