Data-Driven Pricing Analysis in Public Transport
Challenge
Public Transportation Operators (PTOs) and Public Transportation Agencies (PTAs) must consider many complex factors when setting fare prices. Regardless of the ownership model, fares from PTAs and PTOs must be responsive to safety levels, supply and demand, and public perception.
Absent a transparent benchmark for ticket pricing, these organization can face significant and costly challenges associated with:
High prices that discourage ridership
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Low prices that erode revenue flows
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Negative public sentiment regarding pricing practices
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Solution
Rich, objective data about actual use is an effective and efficient way to establish a reliable pricing benchmark. Reports generated from a robust data capture solution are an optimal starting point for a supply and demand-based pricing analysis.
For organizations committed to fact-based decision-making, a data capture solution is an excellent tool for:
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Establishing clear pricing rules based on objective criteria
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Understanding the impact of pricing changes and promotions
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Justifying pricing decisions to internal and external stakeholders
Benefits
Increased transparency in public transportation pricing models is a great way to strengthen bonds with different parts of society, including passengers and government agencies. Automated data capture solutions that can accurately capture complex passenger flows with a high degree of precision can help PTOs and PTAs:
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Capitalize on dynamic pricing models
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Improve passenger satisfaction
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Enhance dialogue with different parts of society
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