How can you define and scope airline data analytics opportunities?

1 Identify the problem or opportunity

The first step is to identify the problem or opportunity that you want to address with data analytics. This could be a specific pain point, a gap in performance, a customer need, or a competitive advantage. You should be able to articulate the business value and impact of solving or seizing it, as well as the current state and the desired state. You should also consider the feasibility and urgency of the problem or opportunity, and how it fits with your strategic priorities and vision.

2 Define the data requirements

The next step is to define the data requirements for your data analytics project. This includes identifying the data sources, types, formats, quality, and availability that you need to answer your problem or opportunity. You should also assess the data gaps and risks, and how to address them. You should map out the data flow and architecture, and determine the data governance and security policies that apply. You should also estimate the data volume and velocity, and the storage and processing needs.

3 Choose the analytical methods and tools

The third step is to choose the analytical methods and tools that you will use for your data analytics project. This depends on the type and complexity of the problem or opportunity, the data characteristics, and the expected outcomes. You should select the appropriate analytical techniques, such as descriptive, diagnostic, predictive, or prescriptive analytics, and the corresponding algorithms, models, or frameworks. You should also choose the suitable tools and platforms, such as software, hardware, cloud, or hybrid solutions, that can support your analytical methods and data requirements.

5 Validate and communicate the results

The final step is to validate and communicate the results of your data analytics project. This involves testing and verifying the accuracy, reliability, and validity of the data, methods, and outputs. You should also interpret and explain the results in a clear, concise, and relevant way to your target audience. You should highlight the key insights, findings, and actions that can help them make better decisions or improve their performance. You should also solicit feedback and suggestions for improvement or further analysis.