IRCTC has floated a tender to hire a consultant for monetisation of the passenger data.
Indian Railway Catering and Tourism Corporation (IRCTC)- the ticketing arm of Indian Railway has floated a tender to hire a consultant for digital monetisation of its user data. The last date for the tender submission is August 29, 2022.
The Indian Railways that sells more than 4 lakh tickets every year and sits on a large data dump of users, plans to monetise its digital data asset for the purpose of revenue generation. “Indian Railways generates enormous significant data which has a scope for several opportunities for monetization of digital data. Indian Railways desires to monetize the data in customer/vendor applications and internal applications of Indian Railways by conducting various businesses with both Govt. and Private Sectors viz Tours and travels, Hotel, Financing, Infrastructure development, Insurance Sector, Health Sector, manufacturing Sector, Shipping, Aviation, Port Developers, Container Operation, Mining, Energy, etc. for generating revenues and also to enhance facilitation and further improve the services,” reads the E-tender document from IRCTC.
IRCTC plans to hire a consulting firm to study and review all the data related to “public facing and vendor applications, websites of all Indian Railways, PSUs & Other Units” and seek a roadmap for monetisation of digital data on Indian Railways. The passenger data will include information such as name, age, contact number, email ID, number of passengers travelling, class of journey, payment mode, IRCTC login ID and password and more. This will also include passenger’s behavioural data like the cities you frequently travel to, your frequency of travelling, the class of journey preferred, booking modes and likewise more.
The consultant will have to aggregate all these data collected by Indian Railways, identify a market potential for them and design procedures for long term monetisation of these data. According to a report from Hindu Business Line, IRCTC aims to generate a revenue of nearly Rs 1,000 crore by monetizing its digital data.
