“The project has allowed us to take a step forward in the application of advanced algorithms in a very specific sector for which there are no commercial solutions.”
FEATURES
Automatic segmentation of shows and daily prediction of ticket sales over multiple time horizons.
IMPACT
Prediction errors of less than 10% for organizers of large shows with a good sales history.
ACHIEVEMENTS
Time savings in making decisions on which commercial actions to carry out for each organizer based on the ticket sales prediction.
BUSINESS PROBLEM
Teknecultura offers event organizers the ability to monitor ticket sales to help determine the best commercial actions to meet their sales goals.
This monitoring is based on manually creating an estimate of future sales. Creating this estimate manually is time-consuming and has an average accuracy, which depends on the organizer and the event in question.
DRIBIA’S SOLUTION
Together with Teknecultura’s data team, we have developed an automatic sales prediction algorithm that can be applied to events for all organizers. The algorithm predicts sales over different time horizons (7, 17, 21, and 28 days) and also estimates the confidence in the generated prediction.
This information is analyzed and used by Teknecultura to assess and prioritize the most appropriate commercial actions for each situation, event, and organizer.
