How Avis Budget Group approaches innovation, business, IoT, smart cities
Avis Budget Group, which operates the Avis and Budget rental car business as well as Zipcar, is investing heavily in information technology and data to revamp its business and customer experience.These business and technology initiatives are being led by a tag team of Arthur Orduna, chief innovation officer at Avis Budget, and Gerald Insall, chief information officer.
CEO Larry D. De Shon outlined a laundry list of digital transformation efforts on the company’s first quarter conference call. The outline goes like this:
Avis Budget is developing its demand fleet pricing yield management system using algorithms and automatic price adjustments. The Demand Fleet Pricing system is being piloted in the U.S. The system analyzes billions of pieces of data to inform pricing, demand and improve decision-making over what autos to move. “We’re still learning how best to use this system
to drive day-to-day decision-making, but the teams have gotten their hands on it and are incredibly enthusiastic about its potential,” said De Shon.
The company launched a new Avis.com platform and mobile apps to handle payments. So far, the platform has led to a more than 10 percent increase in prepaid reservations in the first quarter.
Avis Budget also has a bevy of efficiency efforts underway ranging from scheduling tools, workforce planning and demand modeling.
Here’s a look at part of the master plan for Avis Budget in two slides.