A machine learning approach to itinerary-level booking prediction in competitive airline markets

@article{Hopman2021AML,
  title={A machine learning approach to itinerary-level booking prediction in competitive airline markets},
  author={Daniel Hopman and Ger Koole and Rob D. van der Mei},
  journal={ArXiv},
  year={2021},
  volume={abs/2103.08405}
}
Demand forecasting is extremely important in revenue management. After all, it is one of the inputs to an optimisation method which aim is to maximize revenue. Most, if not all, forecasting methods use historical data to forecast the future, disregarding the ”why”. In this paper, we combine data from multiple sources, including competitor data, pricing, social media, safety and airline reviews. Next, we study five competitor pricing movements that, we hypothesize, affect customer behavior when… 
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