• Networking: 6 - 6:30 PM
• Talk: 6:30 - 8 PM
• Buy or Wait? Consumer-friendly Airfare Prediction or How the Bunny Saves You Money
Buying a plane ticket is a time-consuming and frustrating process that often leaves the consumer unhappy. Flight prices are less transparent and fluctuate more than almost anything else a consumer buys, even though airfare is one of the most expensive purchases for a typical family.
Recommending when to buy is tough for two main reasons: first is the airfare marketplace and its idiosyncrasies present unique analytical challenges, and second is that the prediction must be highly consumer-friendly: both easy comprehensible and immediately actionable. If we're too conservative and tell you to buy too early, we risk missing out on a better deal later, but if we're too optimistic and wait too long, you could end up paying more as prices rise towards your departure date. Because prices change at the whim of the airlines in unpredictable ways, it's impossible to know for sure.
This session will outline how we can overcome these challenges to help consumers save 10% on average, and up to 40% in some cases.
• About the author:
Patrick Surry has a proven track record in defining and solving complex problems in real world, data-intensive applications, with a technical background in software prototyping and engineering for large-scale data analysis and visualization, predictive modeling, numerical methods and stochastic optimization.
Patrick Surry also bring strong people- and product-management abilities, with exceptional communication skills and extensive international consulting experience in both pre- and post-sales across Europe and North America. He has a Doctors of Philosophy in Mathematics and Statistics from University of Edinburg and a Bachelor Degree from University of West Ontario.