Optimally Utilize the Cargo Spce

Aviation

Reduced optimum utilization of cargo space allotment and revenue loss due to unutilized space, pre-allotted to established logistic companies.

Predict the cargo space utilization a week in advance of travel start time by routinely performing Forecasting / Time-series analysis to forecast the amount of unused space based on daily cumulative booking.

Provision for ‘what-if’ analysis for effective resource utilization based on quantity & quality of goods to be transported and using pricing analytic for optimum pricing of free space by prediction

Benefits for the company

– Reduction in % of unused cargo space
– Increase space utilization effectiveness
– Increased number of new customers and also increase businesses from existing customers by providing them more space to book
– Increase profits by predicting the space utilization so that unused space is released for booking

Feasability

High

Type of expertise/ AI domain

Prediction and Forecasting

Internal data required

Bookings, Space utilization, Customer History

Research Paper

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