Air Asia Bhd’s data science unit, MadCience Consulting Sdn Bhd has signed an agreement with Edinburgh-based Big Data For Humans (Bd4h) to establish a data analytics joint venture based in the Asia-Pacific region.
The first client for the venture, which will be operated as Big Data For Humans APAC Ltd and commence operations in the fourth quarter of the year, will be Air Asia.
“I am excited by the possibilities offered by data analytics to grow AirAsia’s business, especially in ancillary. These are exciting times. Data is king and we look forward to working together with Big Data For Humans to unlock the value in our customer database as we bring AirAsia even closer to becoming a digital company,” AirAsia Group CEO Tan Sri Tony Fernandes said in a statement.
Bd4h’s data science platform will reportedly be able to automate insights and generate action plans in real-time to provide guests with the best offers based on their preferences across all channels.
“We will work closely with AirAsia to serve up the right deal to the right guest at the right time. Asia is a huge market that’s just beginning to realise the power of data science, which presents clear opportunities for us going forward as we build our business in the region beyond AirAsia,” said Bd4h founder and CEO Peter Ellen.
In a highly competitive market, many airlines are now looking to use data analytics platforms and solutions to try and get the edge on their competitors. For example, Southwest Airlines, Qantas, EVA Air, AirAsia, and Swiss International Air Lines all use GE’s Predix platform to turn operational data into insights into their fleet and profitability.