It might seem obvious, but at any given moment, an airport can only accommodate so many aircraft.
This is somewhat of an existential question. Back when we were going through our branding exercise, we were asked to complete the following statements: "We believe __________"; and "We exist to __________". It forced us to think about why our customers, employees, and investors should care about Lumo, and why you should engage with us. We also came up with our name during that branding exercise; Lumo = LU (Illuminate) + MO (Movement/Mobility).
Tags: Value proposition
It’s shaping up to be another busy holiday travel season, with 45.7 million passengers expected to travel on US airlines between December 20 and January 6.
The negative impacts of flight delays and disruptions are well documented. Globally, flight delays are estimated to cost over 60 billion USD, and in the U.S. two out of every three flight delays are caused by somewhat predictable events, such as weather, air traffic control restrictions, or another forecastable cause. Most critical for travel agencies and travel management companies (TMCs) is the personal impact on the traveler: over half of all business travelers list delays and cancellations as the most frustrating part of travel.
The Lumo delay indexes are a score from 1 to 10 given to each flight indicating how “risky” a flight is with respect to being delayed. The score is intended to capture both delay frequency (probability of a delay occurring) and delay severity (how long will the delay be if it does happen).
While we can't give away all the details of our secret sauce, here's an outline of the basic ingredients. Our predictions are based on a combination of machine learning models that analyze vast amounts of historical and forecast data, and a super-fast simulation that is able to simulate the impact of projected constraints on all flights in the world rapidly (in a few minutes).
Boston 25 News reporter Blair Miller visited Lumo’s Boston office to interview our Co-founder and CEO Bala Chandran.
Read more at Boston 25 News.