Add Airline Ticketing and Reservation KPIs to the Scorecard
One of the ways of monitoring the movement of progress of an organization is via KPIs. These measurable parameters when arranged on a balanced scorecard under different categories provide a means of judging the decisions, policies, plans of a company.
The classes which can be formed and the parameters which may be put under them are as follows.The financial Perspective can be one of the categories. It can be evaluated by assigning values to parameters like Total revenue from tickets, Total amount refunded due to cancelled tickets and compensation of ticket agent.
Customer Perspective may be used for getting an insight into the perceptions customers hold for the concerned organization. It is obtained from Ticket Cancellation charges, Reservation changing charges, Charges for seat preferences and Lap-riding child fare.
The next category, Tickets sold can be calculated by accumulating the values of tickets sold from Airline's Official Website, through travel agents and over telephone.
Internal Processes can be known from Ticketing errors, Customer care services, Air ticketing training and Data security measures implemented. This would help in attaining an idea of the operations of the organization in question.
Why do business professionals choose ready-to-use KPIs?
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
- Can a business professional research KPIs on his own?
- How do I avoid typical problems with KPIs?
- Is ready-to-use KPI applicable in my niche?
- Is KPIs' price affordable?
- Can KPIs can be easily integrated in any business environment?
- How can KPIs make the difference to the business?
What are the benefits of Airline Ticketing and Reservation metric:
- These metrics make it possible to measure losses resulted from returned tickets and evaluate return tickets rate.
- Customer perspective of the Ticketing BSC may include indicators related to changes in the reservation, i.e. measures that help predict clients' behavior.
- Rate of tickets sold online and offline can also help get some important insights.
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More ideas on using Airline Ticketing and Reservation KPI
One of the issues that occupy a prominent place in Airline ticketing and reservation field is the 'pace' at which information flows from one point to another. This is because there has to be an absolute coordination between 'demand' and 'supply' of the product, viz. vacant seats.
Also, people booking the seats must be able to have access to the status of booking at any given time.
Drawing from this, one infers that automation of steps in airline ticketing is one way for achieving this in an accurate manner. At times, 'indicator approach' is followed that in turn is administered using the airline ticketing and reservation scorecard. This has made almost all the groups providing airline reservation services to go for 'click' model of operation. In this, one just needs to browse for some time on the online portal run by the organization and make decisions for plane reservation. This has definitely eased the job of airline ticket booking for both the carrier companies and boarders.
There are several booking agents that do the flight reservation on behalf of people interested in flying by charging some additional fee from them. The electronic reservation and ticketing system have done the much needed good to the airline industry.
More useful information for Airline Estimation
Airline Ticketing and Reservation Evaluation Balanced Scorecard Screenshots
Metrics for Airline Estimation
This is the actual scorecard with Airline Ticketing and Reservation Performance Indicators and performance indicators.
The performance indicators include: airline ticketing and reservation, financial perspective, % of domestic ticketing revenue, % refunded due to canceled tickets, compensation to ticket agent, ticket cancellation charges, customer perspective, refund period, reservation changing charges, charges for seat preference, lap-riding child-fare, tickets sold, percentage of tickets sold on airline's official website, percentage of tickets sold through travel agents, percentage of tickets sold on airport counter, percentage of tickets booked over telephone, internal processes, ticketing errors, customer care services, air ticketing training, data security measures implemented
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