A Novel Airfare Dataset To Predict Travel Agent Profits Based On Dynamic Pricing

Nur Alamsyah · Saparudin Saparudin · Angelina Prima Kurniati

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Supply Chain and Inventory Management Aviation Industry Analysis and Trends Forecasting Techniques and Applications

Abstract

Profit prediction in the aviation industry is an im-portant process to increase competitiveness in business. However, it is challenging because it relies heavily on good quality datasets. A good quality dataset can increase the linear correlation between features and can improve the coefficient of determination is the proportion of variation in the dependent variable that can be predicted from the independent variable. The purpose of this research is to create a novel flight ticket dataset where we add three new features to the general flight ticket dataset. We add NetPembayaran, SalesAgent and Profit features to our dataset. The approach used in making this dataset is to collect flight ticket sales transaction data, flight schedule lists, and flight ticket sales history data from various available sources, and integrate them into one comprehensive dataset. Our novel dataset successfully increases the linear correlation between features and can also increase the coefficient of determination. We also evaluated the model we used for profit prediction using RMSE.

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References

2019Forecasting stock prices with a feature fusion LSTM-CNN model using different representations of the same data 2021On the platform but will they buy? Predicting customers' purchase behavior using deep learning 2019The impact of dynamic price variability on revenue maximization 2019A big data driven framework for demand-driven forecasting with effects of marketing-mix variables 2021Marketing Strategy: Pricing strategies and its influence on consumer purchasing decision 2020Sales Prediction Using Linear and KNN Regression 2020RETRACTED ARTICLE: Stock market analysis using candlestick regression and market trend prediction (CKRM)2019A Framework for Airfare Price Prediction: A Machine Learning Approach

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