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Boeing is one business that has seen the benefits that data analytics can bring. In June 2017 at the paris Air show, Boeing announced the formation of a new business, Boeing AnalytX. The goal of the company is to provide additional services to Boeing airplane owners, information that can help them to optimize flight plans, maximize fuel efficiency, and minimize operational disruptions.
Boeing’s CEO, Dennis Muilenberg, said that the services they can provide will help their customers save money, but at the same time, it will triple their own revenue from aviation services to $50 billion annually. Boeing AnalytX has lined up new contracts for their services from seven airlines, included, United Airlines, Japan Airlines and Quantas.
Goh Choon Phong, CEO of Singapore Airlines, told CNBC that “airlines have their own advantage when it comes to data and interactions with customers. I don’t think you can find any other business where you have customers, in some sense, with you for the duration of a whole flight. That’s an opportunity for airlines to get to know passengers even better.”