In 2017, we realized we had a booking problem. I was filling space at a rate that exposed the flaws of an imperfect booking system. We needed a more accurate system of predicting the cabin space a school group would need based on the number of students they were bringing.
Pulling from my math degree, I discovered our previous system was inaccurate 76% of the time. From there, I used probability and a little predictive analytics to create a formula to maximize revenue while ensuring we would never overbook. My final system was then built to be accurate 99% of the time and its implementation directly allowed for most of our revenue growth the following year.
Pulling from my math degree, I discovered our previous system was inaccurate 76% of the time. From there, I used probability and a little predictive analytics to create a formula to maximize revenue while ensuring we would never overbook. My final system was then built to be accurate 99% of the time and its implementation directly allowed for most of our revenue growth the following year.