Ganesh Vedarattiname, Director – Strategy & Analytics, Jetcraft
How does Jetcraft use data analytics to support clients?
Data analytics supports our clients and every aspect of our transactions, from finding the right aircraft to getting the right value for it. We rely on a wide range of data from the market and aircraft customer information that we draw from industry sources and our own sales network. In the current market, it’s quite difficult to find an aircraft because of the high demand. So, we’ve built this proprietary software that scans the market daily showing all publicly available planes and off-market aircraft so that our sales team can show clients planes that other brokers just cannot see.
How does data analytics support the sales team?
The sales team needs to perform analytics on a daily basis, from building market reports to aircraft valuations. So, we’ve built this software that pulls all the data available and structures it into concise and powerful insights so that our sales team is always able to help our clients in the best way possible and move the deal forward.
Data analytics and Jetcraft’s position in the market
In recent years, we’ve seen a great influx of new customers and new capital in business aviation. The industry is going to get more and more sophisticated meaning that brokers will need to get smarter and more analytical in their approach to how they do things and that’s exactly what our data analytics division is about. We rely on our global sales network who are on the ground every day to give us market information, and that enables us to have an edge on the market and stay on top of things.
Jetcraft’s Marketing Forecast methodology
Every year we release market forecasts that predicts what’s going to happen in the pre-owned market over the coming years. This relies on a fine blend of econometric modelling and market information from our sales team across the globe. This gives us the best information possible to quite accurately predict transaction volume, value on the pre-owned market. In addition to transaction forecasts we always have a trends section to tackle what we believe are interesting dynamics in the market. So, it goes from the impact of the pandemic to changes in consumer behavior to give our readers a much more comprehensive understanding of the market.
Current industry data – aircraft values and inventory
It’s no secret that recent years have been good for the industry. A lot of demand coming in and pushing prices a bit higher but if you put this price increase in perspective to what happened in 2007/2008 bubble, the market is way more reasonable now. Buyers and sellers are more educated, which is a good thing because it will trigger a much more sustainable growth for the industry.
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