Context :
IRCTC
looks to leverage ‘digital assets’ to bolster revenue / 18 Aug 2022 / HINDU
Extract :
The Indian Railway
Catering and Tourism Corporation (IRCTC) has floated a tender to hire a
consultant that can help the firm monetise the “reservoir of digital data”, including customer data
of both passenger services as well as freight services, to unlock estimated
revenue potential of ₹ 1,000
crore.
In the notice
inviting applications from consultants, the firm said Indian Railways generated
enormous amounts of data, presenting ‘large scope’ for monetisation.
“Indian Railways desires to monetise
the data in customer/vendor applications and internal applications of
Indian Railways…for
generating revenues and also to enhance facilitation and further improve
the services,” it said in the tender floated last month.
“IRCTC wishes to engage a consulting firm to help in
identification, design, and development and roll-out of data monetisation
opportunities.”
It also added that the applying party needed to study “various
Acts or laws including IT Act 2000 and its amendments, User data privacy laws
including GDPR (General Data Protection Regulation) and current ‘Personal Data
Protection Bill 2018 of India, and accordingly propose the business models for monetisation of Digital Assets”.
The consultant, it said, would be provided with details of applications and the
data collected, for conducting the study on monetisation of digital data and
would need to study data of the passenger, freight and parcel businesses,
including customer data such as name, age, gender, class of
journey, payment mode, etc. The consultant will also need to study digital data
systems that generate behavioural data
such as ,
# flow of passengers,
# frequency of journey,
# travel
time and
# booking time, ………….among
other things.
In a recent earnings call,
the company’s Chairperson and MD Rajni Hasija [ cmd@irctc.com
/ dtm@irctc.com ],
said IRCTC was focussing on
the non-convenience fee resources more, in addition to the convenience fee
resources (for revenue generation) and “one key driver will be… en-cashing the presence of IRCTC in the
Internet and the digital asset
monetisation…we have floated the tender for that, so we are hoping for some
good results”.
MY TAKE :
No one can blame IRCTC for wanting to “ Monetize “ its enormous data-base of train travellers
Every Social Media / E Comm Platforms / Service
Provider website, does it
In fact when implemented, this ( copy-cat ) initiative can
yield IRCTC , Rs 10,000 Cr annually
!
“ IRCTC has more than 100 million registered
users, out of whom 76
million are active users
PRS
handles reservations, changes, cancellations and refunds, booking 1.6
million seats and berths daily and handling more than 100
million transactions per day.
From
the following comparative tabulation, you can see the huge “ Scope of Opportunity
“ , if IRCTC offers some additional “ value-added service “ , to travellers who are
willing to supply some extra data
I urge
IRCTC link up with ONDC / https://ondc.org/
With regards,
Hemen Parekh / hcp@RecruitGuru.com / 19
Aug 2022
|
Srl No |
Data Level - Details |
Required ( Optional ) as suggested in my following
blogs : Ø SARAL |
Required by IRCTC ✓ ( Value Added Services ) |
|
1 |
Personal
Data |
||
|
2 |
Family
Data |
Marital
Status |
|
|
3 |
Contact
Data |
||
|
4 |
Social
Media Data |
||
|
5 |
Cultural
Exposure Data |
For online booking of entertainment venues |
|
|
6 |
Edu
Qualification Data |
For online application to Edu Institutions / ITIs |
|
|
7 |
Language
Knowledge Data |
||
|
8 |
Job
Experience Data |
For “ Submit Resume – Apply Online “ , against “ Job Alerts “
delivered through Mobile App |
|
|
9 |
Wealth-Income
Data |
For Investment opportunities |
|
|
10 |
Medical
History Data |
For Medical Tele-Consultancy |
|
|
|
|
|
|
To be able to buy a train ticket on IRCTC portal, a person needs to provide
following DATA :
[ A
]……..
“ Create Your Account “ form
Ø User
Name / Password / Preferred Language / Security Question – Answer
Ø Personal
Data :
# Name (
First – Middle – Last )
# Occupation
# Country
# E Mail ID
# Nationality
# Date of Birth ( DOB )
# Marital Status
# Gendre
# Mobile No.
# Address ( State-City-Area-Street – Flat No –
Post Office – PIN – Phone )
[ B
]….. “ Book Ticket “ form
#
Journey starting from………
# Journey to………………
# Journey Date …… DD – MM - YY
# Class
#
General ( Ladies – Lower Berth – Sr Citizen – Person with disability –
Tatkal – Premium Tatkal
Related Readings :
SARAL ( Single
Authentic Registration Anywhere Login )
Only Answer ; a Statutory Warning
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