PROS ® (NYSE: PRO), a big data software company, today announced its sponsorship of the World Low Cost Airlines Congress. The tenth annual event is scheduled for September 16-18 at the Sofitel London Heathrow. PROS will be in booth 48 at the Congress.
PROS plans to showcase Stratus, its first predictive and prescriptive flight and revenue management (RM) solution, purpose-built for low-cost airlines. Stratus – a cloud-based solution – uses data science to drive greater alignment between RM and pricing, and helps airlines outperform in their price-sensitive, ultra-competitive markets. It automatically adjusts flight inventory to prescribe the revenue of each flight, while balancing other ancillary revenue streams. Stratus streamlines the RM process to help improve analyst efficiency and effectiveness, enabling airlines to maximize both revenue gains and load-factor goals. PROS provides these airlines with big data applications that enable analysts to proactively manage the booking process and maximize revenue for thousands of flights.
PROS will lead a round table discussion titled “Maximizing Revenue with Offer Optimization and Ancillary Revenue” on Tuesday, Sept. 17, at 12:10 p.m.
“PROS is a leader in the revenue management industry, and we continue to extend our market reach with Stratus,” said PROS Travel President Benson Yuen. “This new solution has been designed specifically for low-cost carriers, which is a market segment that traditionally has been under-served. Stratus provides airlines with state-of-the art revenue technology that can positively impact their bottom line and yet is easy to use. As competition continues to grow, airline executives are looking for new solutions to maximize both load factor and revenue. With its combined power and simplicity, Stratus enables revenue analysts at any experience level to be more effective by helping their organizations manage conditions that constantly fluctuate. We look forward to showcasing Stratus and demonstrating how PROS can help airlines outperform.”About PROS Stratus Stratus offers a powerful approach to revenue management for low-cost carriers with its innovative cloud-based solution. With Stratus, these airlines are able to improve the revenue of each flight, and also reduce costs with the cloud infrastructure that enables them to outperform their business goals:
- Make faster, more accurate pricing decisions : With access to near real-time data, airlines gain the agility and flexibility to make revenue management decisions from early in the booking cycle until flight departures.
- Keep revenue and business goals on track : With near real-time tracking of load factors and fares, airlines can now proactively monitor and analyze their progress toward business goals to ensure they’re achieving corporate targets. This new method provides a far more effective approach compared with current methods that rely on post-event assessment and end-of-month metrics.
- Respond more effectively to competitors : Designed with PROS revenue management science, Stratus helps transform data into insights. Airlines can manage price, and both opaque and transparent attributes, to more effectively respond to unexpected competition actions.
- Gain higher performance with lower upfront costs : The cloud deployment eliminates capital-intensive expenditures, lowers IT support requirements, and provides the privacy and security of an advanced on-premise computing environment. As a result, new product innovations are immediately available for customers to review, test and activate.
- Enable faster training times for new hires : The software is easy to use and requires little training, which enables new analysts to gain proficiency much faster.
- Boost productivity and efficiency : Analysts are no longer encumbered by complex spreadsheets and manual calculations. Instead, they can analyze and compare flight data, identify trends, devise business strategies, and far more easily keep a watchful eye on the flight’s progress and how it is tracking toward its goals. With its innovative features that shift the role of analysts from tactical to strategic, Stratus helps analysts maximize efficiency and productivity.