Travel is a big sophisticated business. But, are airfare ticket prices "rational"? You want to travel and enjoy cool exotic places or lower business expenses. Whatever. The money and online search problem is "how do I actually find the lowest airfare ticket price"? Your dilemma? Do I book now... or book later in order to get the best airfare deal?
One answer may lie in the development of new high tech web-based travel analysts, who are beginning to crack the code to the Holy Grail of travel pricing, namely the complicated "demand" side of travel. Good news for travelers is that these new online data mining number crunching services can increase your odds to get cheap airfare deals that perfectly match your timing... and pocket book needs.
Airfare Ticket Prices In Constant Supply Demand Flux.
The only time an airfare ticket is "set" is when you lock-in and commit to buy. The rest of the time? As often as three times each and every day, and for over 70,000 defined travel markets throughout the USA and Canada, airfare ticket prices will move up or down based entirely on whether seats sell or remain open.
International airfare rates are even more "fluid", easily changing up to five times daily in a dance between supply of seats versus demand buyers. No surprise that the economic rule-of-thumb airfare price strategy is 1st-grade simple... the more people who want to travel to the same spot, then up goes the airfare price.
Catch 22 - How To Predict Lowest Airfare Ticket Deals When You Need It.
Because most airlines now offer online web sites with both the appearance and reality of real-time pricing and airfare information, consumers are ill-equipped to determine what is truly a "normal" or "fair" prices. A "low airfare ticket price" might turn out to simply be whatever the airline happens to say when you're online.
Tracking Pricing Changes - Like Weather Predicting.
Some smarts are involved in forecasting future discount airfare ticket price ranges. Divide total number of air passenger miles by the total number of passengers (207 million travelers just between June 1 to August 31)... mix in the total number of destinations... multiply by the number of prices quoted for each route... adjust for monthly weekly and daily timing variables and you now have the "concept" of forecasting imbedded in these new data mining travel services such as FareCompare.com, Farecast.com or Kayak.com.
How Much Data Is Being "Mined"?
Over two years of industry data is being sifted and sorted, in order to reveal patterns regarding day-by-day airfare price variability. Your dealing with billions of data points, all coming into an "ordered system" where past airfare pricing "facts" can be manipulated in order to provide credible forecasting of future demand-side pricing. Translated? Yesterday's airfare prices give you the leg-up advantage in predicting when to buy your ticket, and the likelihood when the best airfare deals will be offered on the travel route you have in mind.
What Other Impact Factors Drive Airfare Ticket Price?
Weather and seasonal issues, conventions, high school and college graduation periods, sporting events along with more than 100 factors, some direct and some intuitive, that go into the programming side of online airfare ticket analysis services. Increasing jet fuel prices, internecine business pricing wars between airlines, wars, freakish weather are not included in the modeling programs.
Once You've Got The Best Airfare Price... Who Sells You The Ticket?
Not the data guys. Once you've got the "answer" to your travel route-date, you're kicked back into the market where you can contact airfare consolidators like Expedia.com or Travelocity.com... or go directly to the airlines.
What Sort Of Airfare Savings Can Travelers Get?
A well supported high volume travel route such as St. Louis to Atlanta might show Airline A's everyday airfare ticket price at $400. Meanwhile, an arch-rival Airline B's discount airfare ticket prices over the same route may fluctuate from $100 to $400. The challenge is... how do you find the airline with the deal that's right for you?
What About Airports And Reputations For Flight Delays?
Got the lowest airfare ticket? Sure... but what if you waste gobs of time waiting for incoming or outgoing flights? Some traffic hubs, like New York, regularly create delays in over 40% of all flights. You can limit this factor with some planning knowledge from online info-tech specialists like avoiddelays.com.