KAYAK Launches Price Forecasts For Flights
Our goal has always been to provide comprehensive information to help travellers choose the best flight deal for their needs. In November we published ‘When To Book’ guidelines based on analysis of over one billion search queries on KAYAK sites. Because some hard-core deal-hunters can’t get enough information, we’ve now added price forecasts to our flight search results. Before you get too excited, it’s important to reiterate the first guideline we mentioned in our when to book guidelines: if you see a good price, book it.
In addition to the fare history chart we’ve provided for some time, KAYAK flight search results now include a forecast of whether the prices in your search are likely to rise or fall within the next 7 days. The feature also provides the statistical confidence level behind the forecast.
Giorgos Zacharia, KAYAK’s Chief Scientist, led development of KAYAK’s price forecasts and comments, “our algorithm incorporates data from multiple faring and availability providers across the over one billion annual queries performed on KAYAK sites and mobile apps. As we continue to collect data and test the algorithm, the forecast accuracy will continue to improve.”