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Using Marketing Analytics in the Travel/Entertainment Industry

In: Data Mining for Managers

Author

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  • Richard Boire

Abstract

The growing importance of analytics and data mining has led to the development of solutions in industry sectors such as travel and entertainment. Let’s look at sports as one example of entertainment. Here, a flagship team like the Toronto Maple Leafs or New York Yankees does not need to be very effective to achieve its goal of putting more fans in stadium seats in a cost-effective manner. The reality for these organizations is that the product they offer is highly price inelastic—that is, the price charged for the product can easily be increased or decreased with minimal impact on overall ticket demand. The use of analytics and data mining in this context is meaningless.

Suggested Citation

  • Richard Boire, 2014. "Using Marketing Analytics in the Travel/Entertainment Industry," Palgrave Macmillan Books, in: Data Mining for Managers, chapter 0, pages 211-213, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-40619-4_27
    DOI: 10.1057/9781137406194_27
    as

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