What AirAsia does with the 6PB of data it generates every month
DATA can only be the new oil if decision-makers know how to use it to fuel the moving parts that will help push the business forward.
The value of data comes from the analytics that can unleash new business opportunities.
That is exactly what AirAsia did with the 6 petabytes of data it collects every month from its operations.
AirAsia Group Deputy CEO for Technology and Digital Aireen Omar spoke about how the company used data to begin their digital journey and build new business opportunities at the recent Malaysia Tech Week 2019.
Omar said that the company aims to build a “complete ecosystem” to improve consumer experiences.
How big data can help businesses build a complete ecosystem
As consumer lifestyles are constantly evolving, big data analytics will be able to show businesses the indicators of potential ahead of time so that business plans can mature with consumers.
Predictive and prescriptive analytics can help decision-makers explore business risks and weigh the opportunity costs before investing even more resources.
In this digital age, companies should maximize the value of data by using consumer data-driven decision-making as an increasingly critical competitive differentiator.
For example, passengers AirAsia built a mobile money app that enables travelers to pay in local currencies without the transaction fees to ensure potential vacationers weren’t deterred by the fluctuating exchange rates.
Continuing in its trend of leveraging the latest technology to enhance customer experience (CX), AirAsia recently rolled out its AI-powered chatbot called AVA – AirAsia Virtual Allstar.
AVA’s launch is part of a broader enhancement of the airline’s website and mobile apps, whereby the chatbot will be assisting AirAsia’s live chat, as well as providing instant responses to customer inquiries.
“We are excited to welcome the new year with our new-look website and app that features AI and boasts a better, faster, more intuitive experience,” said Omar in a recent statement.
“We are always working to enhance our guest experience, and we will be adding more mobile app features in the months to come, so it is no longer just a flight booking platform, but your complete travel companion.”
Further, the company recently issued a special dividend last month which it credited to the success of its logistics arm — a business unit that was started as a result of analyzing operational data.
While it is true that big data technology poses challenges such as data cleaning, integration, sharing, storage, and security, its strategic value remains deeply rooted in its ability to produce outsized returns.