Here are the common terms used in the Unfare app and the explanations for the same:
- Overall prediction – BUY: When you see an overall prediction as “BUY” in the Unfare app against a given search, it means the following. The lowest price for this route and flight date is expected to go up in the next few days.
- Overall prediction – WAIT: When you see an overall prediction as “WAIT” in the Unfare app against a given search, it means the following. The lowest price for this route and flight date is expected to come down in the next few days. However, this does not mean that the prices will go up the next day. It only means that before the departure of the flight, you will find a better lowest fare for the route. However, we will not be able to predict the exact flight which will come with the lower fare. For example, you intend to start from Bangalore to Delhi on a Friday evening. The overall prediction says wait. A week later, just as the prediction, you may find a lower fare, however, that fare maybe for a flight on Friday morning, which may not be convenient to you. Hence if you have specific flight preference, use the individual flight predictions.
- Prediction – BUY: When you see a prediction as “BUY” in the Unfare app against a given flight, it means the following. The price for this flight is expected to go up during the next few days. So if this flight is what you want to book, you should book it right away.
- Prediction – WAIT: When you see a prediction as “WAIT” in the Unfare app against a given flight, it means the following. The price for this flight is expected to come down during the next few days. So if this flight is what you want to book, you could probably wait for the prices to come down. However, do note that this does not mean that the next price change will be lower than this price. For example, you searched for a flight and the current prediction for this flight is “WAIT”. The current price is Rs. 6000/-. It could very well happen that the next day the price goes up to Rs. 7500/-. Remember that the prediction – “WAIT”, in this example, only means that you will find a price lower than Rs. 6000/- before the flight departs. So, even though the price went up to Rs. 7500/-, maybe after a week, you will find the price at 4500/- thus saving Rs. 1500/- for you.
- Fair price: Fair price is the average observed price for the given flight for the given number of days to departure. For example, suppose there are 10 observed prices for a given flight, say Indigo 7am flight from Delhi to Mumbai, each taken exactly 3 days before its departure, the fair price will be an average of these 10 price observations. One important thing to note here is that this does not take into account high demand day prices like that on a holiday/ Monday mornings/ etc. So this parameter should not be looked at in isolation.
- Last 7 day prices: This graph shows the last 7 price observations that were observed on each of the last 7 days.