Skift and Amadeus’ New Video Series on the Startup Mindset: The Takeoff Sponsored This content is created collaboratively with one of our sponsors.
It was a great idea when Farecast did it in 2006. Did Kayak wait so long because it didn’t want to appear to be a mere follower?
When you conduct a flight search on Kayak’s global sites Kayak now predicts whether the fare will rise or fall within the next seven days, and its level of confidence in the prediction.
Of the new tool, Giorgos Zacharia, Kayak’s chief scientist, says:
Our algorithm incorporates data from multiple faring and availability providers across the over one billion annual queries performed on KAYAK sites and mobile apps. As we continue to collect data and test the algorithm, the forecast accuracy will continue to improve.
Along with the advice on whether to book now or wait, Kayak, like Bing, also provides a chart on the fare trends for that flight over the previous 90 days.
Since flights tend to rise as the departure date draws near — particularly in this era of diminished capacity — some might consider Kayak’s new fare predictions as just another sales tool in its arsenal.
And, it’s nice to have some data to reinforce the pitch.