Danish tech startup Beep Analytics is teaming up with PartsBase to integrate its FlightDeck predictive sales and market mapping platform into the online aviation marketplace. According to the two companies, the data integration will allow suppliers to make better informed decisions about inventory planning and price optimization.
The FlightDeck platform—which was launched in September 2018—uses artificial intelligence and machine learning predictive technology to analyze and map complex supply-side metrics on a part number and component level. According to Beep Analytics, the platform can be used to predict the potential for untapped part sales, so integration with PartsBase will “enable aviation industry suppliers to develop a significantly richer and more granular understanding of the market potential for their product and services portfolio.”
Beep Analytics CEO Jens Peder Pedersen says the companies are still in the process of defining the extent of the planned integration. “Our initial plan is to work together to extend the functionality of PartsBase’s existing API in order to allow Beep’s FlightDeck application to make ad hoc queries into the extended search history on PartsBase,” he explains. “Beep Analytics will build new machine learning code in order to determine specific data patterns which can be related into the existing demand prediction and market mapping functionality in FlightDeck.”
Pedersen says the mutual goal of the integration is to “increase the transparency of the parts and services market, and enable the market participants to make more informed decisions about market demand and supply, inventory positions and pricing.”
The companies are still working on timing of the integration because Pedersen says a significant amount of software engineering still needs to be completed, but they hope to have the first version available during Q3 2019.