Today, I am going to share some reasons with you, of the importance to have flexible and dynamic real-time dashboards and KPIs.
With the current world situation, we find ourselves challenged to react and change in a short period of time. The relevance of having a fast and high adaptability to the circumstances is a key to survival. Our daily routine, priorities, and objectives have drastically changed from one day to another and now we have to focus on evaluating what is really relevant in the current crisis scenario. But to adapt and make decisions in a fast manner, we need to have the information in hand.
COVID-19 turned the world upside down
Now, we all have seen how Coronavirus or #COVID-19, has turned our world upside down. The spread of the virus has impacted all industries and markets around the globe.
However, I am going to focus on one of the most affected industries by the pandemic, aviation, and travel. Frontiers being closed, incoming travelers in quarantine, entire cities, and countries in quarantine, travel bans, temporary cease of operations, among others, have completely changed the focus of the current relevant factors in airline operations.
An airline world where OTP doesn’t matter — unthinkable until COVID
Who would have ever thought, that one day OTP or Pax Punctuality wouldn’t be in the top 5 relevant airline KPIs to be monitored? (at least for a specific but still undefined period of time). Please, don’t take this in the wrong way, these KPIs will always have a high relevance for the airlines. However, in moments like this, our focus should be on KPIs that provide us with a complete overview to understand the current situation and how this evolves during the period of crisis.
Identify changes, peaks or improvements will only be possible if we manage to see the complete overview of the situation day by day. Additionally, by integrating historical KPIs, you will be able to track the evolution of the crisis with a behavioral understanding of the situation since the starting point.
How flexible dashboards can help to support the situation
That’s why I wanted to remind you once again about the relevance of working with real-time data and flexible dashboards.
These dashboards should be used as dynamic tools that provide us with the specific information required at a specific point in time. As we mentioned, in our previous blog post, Airline Operations KPI Trends that will gain increasing importance in 2020 (check it out if you haven’t done it yet), we identified different KPI Trends for this 2020, but as the number one trend, we considered the Temporary KPIs /Dynamic KPIs Dashboards to be the top 1 for this year. The purpose behind dynamic KPI dashboards is to be able to focus on particular aspects that require more attention at a specific point in time and facilitate the decision-making process.
Additional/different KPIs are in the spotlight
With today’s situation, airlines, have to evaluate besides the financial KPIs, operational factors such as impacted flights (canceled or rerouted for example), restricted countries and/or destinations, but also the human factor such as affected passengers, cancellations, rebookings, standby crew members, in order to provide solutions to the customers and staff, with the most updated and transparent communication.
Considering not only the #COVID-19 scenario, there have been other major circumstances that have impacted the industry. The most recent one is related to the grounding of the Boeing 737 Max.
In this case, airlines had immediately to identify the number of aircraft to be grounded from one day to another and immediately assigned different equipment to the scheduled routes with the remaining available operating fleet. Another scenario is strikes, where flights are canceled, rerouted or delayed, and therefore passengers need to be immediately rebooked to other flights in order for airlines to fulfill their traveler’s needs. One of the lately sounded scenarios is the temporary air traffic area restrictions for military and political reasons, where airlines have had to redefine their entire routing to be able to reach specific destinations. These few examples allow us to understand why airlines need to be aware of the current situation in a fast and easy way.
By this, I don’t mean having to go through huge excel tables and never-ending amount of data to evaluate the current situation every day.
What I want to say is to consider the possibility of having pre-defined dashboards or KPIs considering different scenarios ready to be activated and implemented at the correct time to support your decision-making process in an efficient way. As soon as the situation is again under control, you should be able to easily switch back to the regular operational overview.
How could that look in reality?
I invite you to keep in touch with us and let us know your opinions and ideas concerning dynamic KPIs airlines should take into consideration during this time. Don’t miss our next post at the end of this week, where we will be sharing some specific ideas and examples of temporary or dynamic dashboards and KPIs that you can use during different crisis scenarios.