How We Used Machine Learning to Help a Ticket Retailer Fill Empty Seats With Predictive Modeling
This Ticket Retailer (“the Retailer”) is an online ticket marketplace where users can buy and sell tickets to a variety of live entertainment events, from hockey games to theater performances.
But like all ticket retailers, the Retailer was facing challenges with empty seats and no-shows, or those who purchase or reserve seats but ultimately do not attend the event. They wanted to find a way to optimize event attendance and fill as many seats as possible, despite the risk of no-shows.
The Retailer had an innovative idea that would allow them to monetize no-shows, but they needed the help of a predictive modeling guru. Centric Consulting and our machine learning experts immediately came to mind. So together, we formed a partnership to develop a new product that uses predictive modeling to estimate the number of empty seats for a given event, based on a variety of factors and audience demographics. With our expertise, this could help fill stadiums, theaters, and venues across the country, and help the Retailer earn more revenue off ticket sales.