The need for accurate insights to help shape the future of travel is underlined today with the launch of Cirium, designed to be the leader in data and analytics within aviation and the wider travel industry.
It provides solutions across the ecosphere of travel to help drive greater efficiency and profitability, said a statement.
Cirium’s experts analyse millions of datasets each year to help airlines, airports, governments, metasearch, travel management companies and financial institutions to predict future market demand and make informed decisions about their business strategies.
Several economic forecasts are suggesting that average GDP growth in 2019 will be between 2-3%. With aviation closely linked to global GDP growth, such businesses need well-informed insights to forecast supply and demand and manage challenges, including aircraft supply, fleet utilization, fuel prices and an increasing number of passengers.
Cirium analyses the huge volume of data generated from the millions of flights a year to help keep the travel industry in motion:
* 35 million airline flights are tracked and 36 million passenger itineraries processed each year to alert corporate travel companies, travel agencies and airlines, so that travellers stay up-to-date with flight status and airlines minimize disruption.
* Over $300billion worth of airline tickets are analysed for market insights.
* Over 3.3 million flights are tracked per month covering over 97% of scheduled flights worldwide and more than 80% of tracked flights, matched to aircraft registration numbers so engine efficiency can be optimised per hour.
* $5.3 trillion worth of aircraft assets are valued by Cirium each year, as part of the strategy and pricing partnerships with the world’s top 50 lessors and tier one investment banks.
“Keeping the world moving is our day-to-day mission”, says Christopher Flook, CEO of Cirium. “In 1909, we were the first to record the earliest days of flight and now in 2019, as Cirium, we are uniquely positioned to reshape the wider travel industry with our data intelligence solutions.”
Cirium’s data and analytics divisions have been the first to bring innovative solutions to markets, such as the first online aircraft fleet and values database, and the largest selling travel app in the iPhone App store.
The group grew its portfolio significantly through the acquisition of leading data intelligence companies, including Ascend, Innovata, Diio and FlightStats.
Cirium employs a team of over 400 technologists, analysts, data scientists and market experts in the UK, US, Europe, India and Asia-Pacific. Cirium’s portfolio comprises: *Cirium Solutions – actionable insights, analytical tools and premium market insights enabling customers across four key areas of elevating air operations, managing financial investments, developing commercial strategy and improving traveller experience. * Cirium Professional Services–the Ascend consultancy services for aircraft valuations, market commentaries, ratings, forecasts and advisory to banks, aircraft lessors, airlines, non-banking financial institutions and insurance firms; as well as offering custom aviation data services. Ascend by Cirium was awarded “Appraiser of Year” for the seventh time in2019.
* FlightGlobal–respected publications, including flightglobal.com, Flight International and Airline Business and a leading calendar of industry conferences and events. The Cirium brand has been created after extensive global research and is being introduced to Cirium’s customers and employees worldwide from today.
Cirium is part of RELX PLC, a global provider of information-based analytics and decision tools for professional and business customers. - TradeArabia News Service