Airport Analytics (AA+) Car Park Revenue Management System (CPRM) is a demand-driven dynamic car park pricing & analytics system for car parks in an airport or even in Malls or Parking Zones. CPRM not only recommends and applies optimal pricing but also provides critical data-driven insights to maximize revenue and management control, for both pre-bookings and drive-ups.
Airport Analytics (AA+) Car Park Revenue Management System predict and recommends future price every day for few days ahead based on historical data analytics, algorithms and business rules. Data visualization is done through dashboards and reports with various features and functionalities like Filters for Terminal, Car Park Occupancy Optimization, Time period selection, Scorecards , Drill downs, etc.
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Challenges in Maximizing Airport Car Park Revenues
With decline in aeronautical revenues, airports are increasingly becoming aware of the need to maximize their non-aeronautical revenues to maintain their profitability. GrayMatter‘s AA+ Car Park Revenue Management System is a key contributor towards non-aero revenues. Following are the challenges in achieving high revenues in airport car parks
Airport Analytics (AA+) CPRM Solution Approach
Historical data processing
- Uses past 2+ years of historical transactions and reservations
- Data cleaning – outlier detection, identifying constrained periods & special events
- Customize demand prediction model according to specific business needs
- Factors affecting demand forecasting analysed
- Historical data as well as recent trends included in analysis
- Demand models generated for identified demand groups
- Using business constraints, predictions generates pricing decisions
- Monitors patterns and predictions in a predefined frequency
- Significant deviations results in alerts and re-modelling activities