14 DAY TRIAL // Price Predictor in Bing Travel, a vertical that can be accessed in the latest version of Microsoft's search engine, is a feature designed to contribute to the label of decision engine that the company has slapped on Live Search's killer. With the Price Predictor users searching for airfare information will receive information of how prices are likely to evolve. In this context users could decide to buy airline tickets on the spot, if prices are forecasted to rise, or wait and acquire them cheaper if all indications point to a drop in costs.
“The Price Predictor helps you answer the key question of when’s the right time to book your airline tickets. Based on more than 175 billion (and counting!) airfare observations, using real pricing and availability information, the Price Predictor helps you decide whether you should buy now or wait,” revealed Mike Fridgen, director, Bing Travel.
The data offered to customers includes a prediction of the evolution of airfare prices as well as a confidence rate. Fridgen noted that the feature was designed to help users better decide on whether to buy immediately or to hold out for lower prices. Still, Price Predictor is not universally available for all searches. The feature is limited only to certain cities, to round trips and economy flights, and predictions are only associated with popular dates for traveling.
“How do we get all of this data? Every day, Bing Travel gathers millions of potential trip itineraries from a variety of airfare information sources. We track more than 2,500 combinations of origin and destination cities — from U.S. and Canadian departures to destinations worldwide — for trips of up to 21 nights over as long as a 180-day period. We crunch all of this information in order to show you the airfare history and create our price predictions for a given market.”