Managing Availability of Real-time Fares Powered by FareNet
airTRFX and Real-time Fares: Introduction
In the dynamic landscape of the airline industry, the need for dynamic fare updates is no longer a luxury but a necessity. EveryMundo's airTRFX performance marketing platform is designed to enable airlines to launch and manage dedicated web pages for every destination, route, origin, event, interest, and other flight research and purchase criteria (in any language, market, and on any device). At its core, airTRFX excels at serving dynamic fares thanks to its advanced capabilities and modular design. airTRFX pages comprise standard and custom dynamic fare modules, such as top deals modules, low fare lists, fare filter tools, and virtually any other fare visualization conceived by our airline partners.
FareNet: Real-time Fare Collection and Dissemination Without Extra Reservation System Availability Calls
All of this happens under the umbrella of EveryMundo's DataCore, a cutting-edge data aggregation and processing system. This system enables the real-time streaming of fare updates, ensuring high availability and up-to-date pricing on the airTRFX platform.
FareNet Price Availability Measurement and Management vs. Traditional Fare Cache Solutions: The Benefits of FareNet
- Real-time / Streaming
FareNet refreshes fare information in real-time every time a user conducts a search on the airline's booking engine. This is in contrast to traditional fare cache tools, which operate on set intervals and batch processing. The result? An average price availability of around 90% for FareNet.
- Accuracy Optimization
Fare volatility is an issue with traditional fare cache systems, as they treat all flights equally: the fare for a high search volume, highly volatile flight is refreshed just as frequently as a low search volume flight. However, FareNet leverages fare volatility for increased accuracy. The higher the search volume for a flight, the more frequently the fare information is updated. This results in a “self-fulfilling prophecy” where FareNet is updating the fares more frequently for the flights with the highest search volume (which have volatile fares)
- Compliance with USDOT Regulations
USDOT regulations demand that airlines' digital promotion of fares to consumers be executed in a way that puts forth a maximum reasonable effort to ensure price availability and, more importantly, corrects it as soon as possible. FareNet does just this. If a fare discrepancy is found, it updates immediately, thereby complying with consumer protection norms.
- Supplementing Natural User Search with Additional Fares
FareNet populates the DataCore system in real-time with fares viewed by actual users. It is possible to augment the volume of fares in DataCore by integrating with any traditional fare cache solution, such as Amadeus, Google QPX, Sabre, Switchfly, or Vayant. EveryMundo's solutions are open to integration; numerous airlines provide EveryMundo with a traditional fare cache to integrate into DataCore, supplementing the fares collected via FareNet. We consider this approach to be the "best of both worlds."