Transforming the way rail forecasts revenue in post-pandemic Britain
Demand for rail has become more discretionary since the pandemic.
Predicting the future has always been a challenging task (just look up Cassandra and the Trojans!), but the pandemic has made the job of rail forecasters harder still.
Understanding how much money the railway can expect to earn from passenger journeys in the medium-term helps leaders to plan where they target investment. But when the pandemic hit, it changed much of the conventional wisdom underpinning rail forecasting.
The National Industry Revenue Model (NIRM) was built to adapt to rail’s ‘new normal’ and offers a clear, big-picture prediction of passenger revenue, helping rail leaders better anticipate changes in demand across the railway.
Find out more about this model in our latest blog, by our Revenue Forecasting Lead Ana Chan: https://gbrtt.co.uk/keep-informed/blogs/transforming-rail-revenue-forecasts/.