Real-time Pricing for a Leading Airline
Technology:
Python, Cython, Athena, Lambda
In today's fast-paced digital landscape, relying on manual, static pricing can leave a lot of revenue on the table. Working with one of the top airlines, the challenge was clear: automate their pricing system to capture that untapped potential. The airline's reputation depended heavily on its price sensitivity, so any solution had to be transparent and accountable to stakeholders, as well as reactive to demand changes of the flight industry.
We designed a unique, transparent algorithm tailored for the airline, offering real-time pricing suggestions that strike a balance between revenue maximization and demand. Not only did our system beat the legacy model, but it also kept stakeholders informed with its explainable recommendations. Built on a robust Amazon Web Services infrastructure, our serverless design, complemented by a meticulously developed Python library, ensured scalability and accountability at every turn. Through our efforts, the airline was able to confidently and autonomously adjust prices based on real-world factors, ensuring optimal sales without compromising on customer trust.