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The Indian Railway Catering and Ticketing Corporation (IRCTC) floats tender to hire a consultant to monetize rail ticketing data to generate an additional income of Rs. 1,000 crores through monetization.
The tender has been floated to hire consultant for the monetization of digital assets including user base, and passenger travel-related transactions.
The ticketing arm of the Indian Railway reportedly plans to generate Rs. 1,000 crore in revenue through digital monetisation.
“IRCTC is a reservoir of the huge amount of digital data which opens several opportunities for IRCTC for monetisation,” it said in a statement.
IRCTC, a public sector undertaking that provides ticketing in addition to catering and tourism services for the Indian Railways has been a strong monopoly in the railway ticketing space.
It recently reported a 198 percent jump in net profit at Rs 245.52 crore for the quarter ending June.
For the study of monetisation of digital data, the consultant will be provided with the details of applications and the data collected from applications of Indian Railways.
The consultant will study among others the digital data systems which generate behavioural data like the flow of passengers across the origin-destination , class of journey, frequency of journey, travel time, booking time, age group and gender, payment mode, booking modes etc.,
The consultant will also advice on how to monetise data available at all levels of the organisation as well as undertakings under the Ministry of Railways.
IRCTC said that it wishes to engage a consulting firm to study, analyze and review all data related to public facing and vendor applications, websites of all Indian Railways, PSUs & other units to provide a road map, effective monetization business strategies for monetisation of digital data.
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