Sabre has announced the release of the first two products in the company’s Retail Intelligence suite: Sabre Air Price IQ™ and Sabre Ancillary IQ™ for the dynamic pricing of airfare and ancillaries, respectively.
Sabre Retail Intelligence is an innovative product suite that enables airlines to deliver more personalized travel offers in both traditional and NDC channels. Powered by Sabre Travel AI™ – an innovative capability that integrates Sabre technology with Google Cloud’s state-of-the-art AI technology and advanced machine-learning services – Retail Intelligence will allow airlines to dynamically provide offers to travellers based on preferences, marketplace insights and purchase probability, creating a more personalized and better traveller experience.
“We are facing a rapidly changing world and the travel ecosystem looks very different than it did just 18 months ago,” said Wade Jones, chief product officer, Sabre Travel Solutions. “Traveller expectations for relevant and personalized offers are growing, and airlines are more focused than ever on becoming sophisticated retailers. Relying on traditional strategies based on historical data patterns isn’t enough – airlines need intelligent solutions driven by artificial intelligence and machine learning. This is what we are offering with Sabre’s Retail Intelligence suite of products.”
Sabre Air Price IQ increases airlines’ pricing agility and precision by allowing airlines to adapt quickly to changing marketplace conditions. Considering traveller segment and trip intent from the shopping request, the product supports an airline’s efforts to maximize revenue opportunities while providing a seamless experience to travellers.
Sabre Ancillary IQ uses machine learning to present ancillary offers based on multiple factors, including real-time shopping data and purchase probability to increase incremental revenue opportunities and traveller satisfaction. As a result, airlines can deliver increased value and more choice to their travellers.
Both products can help airlines increase revenue opportunity by adapting quickly to changing marketplace conditions while enhancing customer satisfaction by offering travellers the personalized offers that are just right for them. The products are expected to deliver airlines an uplift in incremental revenue of up to 3% when combined with upcoming products being added to the Retail Intelligence suite in 2022.
“As travel retailing becomes more complex to meet increasingly sophisticated consumer expectations, the rules-based technology in use across the industry today will no longer deliver satisfactory results,” said Sundar Narasimhan, president, Sabre Labs and Product Strategy. “To truly modernize travel retailing, the industry requires intelligent systems that allow for continuous learning and scaling at speed. At Sabre, we are focused on equipping our customers with those AI-based solutions that will modernize the way we shop, book and experience travel, delivering incremental value for our customers and the travellers they serve.”
Sabre’s strategic partnership with Google established the Sabre + Google Innovation Framework, pairing Sabre’s travel industry experience with Google Cloud’s advanced artificial intelligence and machine learning capabilities, creating Sabre Travel AI. Utilizing this industry-first capability, Sabre will enable its current products with advanced machine-learning and artificial intelligence to power the retailing experience of the future in travel. The two companies are working to co-develop innovative new technology to bring customers modern, data-driven, omni-channel solutions that enable highly personalized traveller experiences.