Data analytics concerns the transformation of raw data into actionable insights, which help a business make decisions about how to optimise performance, enhance the customer experience, and maximise revenue/profit.
According to Harvard Business School, data enables you to make decisions in a way that intuition can’t, because it removes the subjective element to focus on concrete evidence. It can help you identify new opportunities, quantify risk, and track progress against benchmarks in a way that is impossible with gut feelings. Ultimately, data-driven decisions result in improved efficiency and productivity, better financial performance, and the identification and creation of new product/service revenue.
However, data can be quite noisy. Every day, we create 402.74 million terabytes of data – that’s like having 20 billion iPhones (with 128GB of storage), or streaming Netflix in HD non-stop for a million years without running out of content!
Richard Masters, Vice President of Data & AI at Virgin Atlantic, draws parallels between data insights and his specialist subject, astrophysics:
“You're trying to observe a galaxy and it's mainly all telescope noise and night sky. But you get rid of that, and all of a sudden you can see the galaxy point of light, so you've got your signal and you can start to actually learn something.
“It's the same with the data. We've got so much going on with the ticket, the customer and transactions, with our own operational engineering data, defects data...etc. Trying to reduce that down and making it simple for people is really critical to help with that decision support.”
So how is Virgin Atlantic using data to support its decision making?
How Virgin Atlantic Uses Data Insights
Virgin has built its brand on innovation, passion, and positivity. Virgin Atlantic says, “Our customers mean the world to us. We are flying because of them and exist to make their journey safe and special. Do right by them. Make them smile. It’s that simple.” Core to this mission is data analytics, because like the galaxy point of light, it pinpoints how to enact change to reach new, different, or better outcomes. The following are a handful of examples about how data insights have enhanced customer (and business!) outcomes:
- Redesigning the website homepage, which boosted the number of people searching for flights by 10%.
- Delivering personalised experiences from the moment passengers book to the point the wheels hit the runway, which boosted Virgin Atlantic’s acquisition target by 50%.
- Creating the ‘I Am What I Am’ campaign, which resulted in 14% uplift in passenger consideration, and a surge of 10,000 applications to fill 800 frontline crew roles.
- Rolling out 300 licenses for Copilot, saving each user 1-2 hours per week by summarising meetings within Teams, which freed them to focus on more meaningful work.
Previously, Richard spoke to our CEO, Dr. Raoul-Gabriel Urma, about AI and data at Virgin Atlantic, and how it empowers decision-making at every level of the organisation to drive innovation across teams.
It’s no surprise that companies with leading digital and AI capabilities outperform laggards by 6x. However, when 75% of UK executives are struggling to hire the digital skills they need, and 80% of employees lack confidence in their data skills, what is Virgin Atlantic doing to get ahead?
How Virgin Atlantic has Secured Data & AI Skills in Abundance
Virgin Atlantic believes the starting point for success is to demand more from themselves, so they can become better, every day. By embracing a growth mindset, the company encourages its people to continuously develop vital future skills to keep pace with technological innovation.
Their approach centres on apprenticeships.
By investing in a range of apprenticeships, Virgin Atlantic has aligned skills development to the overall business strategy, to ensure the right learning intervention gets to the right people to drive the company’s overall ambition. It complements their people-centric approach to business because they champion professional development to support career progression for every employee, and encourage internal mobility to secure a pipeline of future talent – 41% of apprentices have had a job move or promotion during or within one year of completing their programme.
Virgin Atlantic is future-proofing its workforce by embedding skills development into its core strategy - building talent and filling key roles through data and AI programmes.
Start Upskilling Your Crew Today
One of the best corporate upskilling programmes right now is the AI Champion Apprenticeship (L3), because it focuses on equipping your team with the skills to identify, implement, and advocate for AI technologies – thereby driving your digital transformation.
Every business needs AI champions to bridge the gap between business and tech teams, because they provide structure to encourage people to safely experiment with how AI can make their lives easier. Champions also help to build excitement for the technology through effective communication strategies. And they guide your people throughout the process, ensuring they have access to the resources they need to be successful.
If you want the ability to make better business decisions and succeed with transformation, find out how the AI Champion Apprenticeship (L3) will positively impact your organisation.