Within its CargoStack CMS suite, Wiremind Cargo has now introduced a new module: The goal of Revenue Optimization is to assist sales steerers and flight controllers in three key aspects of their jobs. The system suggests an entry condition, or “hurdle rate,” for revenue management to assist flight controllers in deciding which reservations to accept on the trip. A suggested rate for spot requests is offered in terms of pricing. Last but not least, the system offers guidance for overbooking based on the anticipated show-up rate of booked cargo.
The system gives additional benefits in addition to the guidance it offers. The flexibility the system provides by allowing rules to be specified by the user is just as significant as these recommendations based on AI models, especially in situations when there is less data, such as on a newly launched route. The display of important market facts to aid in decision-making is another one of CargoStack Revenue Optimization’s primary unique qualities. A flight controller needs real-time market data (capacity and demand) in order to make decisions, especially for revenue management and pricing. For each potential use case, the Model, Rules, and Insights (MRI) methodology provides the appropriate level of guidance.
“The Revenue Optimization tool from CargoStack is irrefutable proof of the innovation that may occur when digital talent is gathered and supported. As a result, the most pertinent decision support systems have been developed by Wiremind Cargo as a result of CargoTech’s investment in our product, as Chief Executive Officer Nathanael de Tarade reveals. In the first-in-the-industry piece of software, our cutting-edge data science algorithms combine the data from CargoStack with real-time and historical market demand data based on aggregated search data.
The end result is a quick, easy-to-use application that offers insightful analytics and that sales steerers and flight controllers will actually use since it makes their jobs easier. The tool is scalable in addition to having a user interface that is specifically made to be simple to use and hence stands out from the industry’s old system. He explains, “We tailor our technology to the right use case because a small airline does not have the same methods for revenue optimization as larger ones have.”
Providing visibility and control throughout the whole operational chain, from product placement to aircraft loading, CargoStack is a competitive and highly affordable software-as-a-service (SaaS) platform. It enables seamless interaction between airlines, GHAs, GSAs, and forwarders. To keep up with the rapid developments in the air cargo market, Wiremind Cargo continuously updates and maintains the product.