👉 Fares computing refers to the process of determining the cost of transportation services, such as air travel, rail, or bus tickets, based on various factors like distance, demand, time of booking, and availability. It involves complex algorithms that consider real-time data to calculate optimal prices for each fare. Airlines and transportation providers use fare computing systems to maximize revenue while ensuring competitive pricing that attracts customers. These systems dynamically adjust prices based on demand fluctuations, ensuring that high-demand routes and times command higher fares, while off-peak periods may offer discounts to stimulate bookings. The ultimate goal is to balance profitability with customer satisfaction, optimizing both revenue and market share.
