IDeaS Breaks New Ground by Optimizing Event Ticket Sales Revenue with Carolina Hurricanes

  • 08.12.09
IDeaS Revenue Optimization, a leading provider of pricing, forecasting and optimization solutions and services, announced that the NHL Carolina Hurricanes is using IDeaS Advantage for data analysis and pricing recommendations to optimize ticket sales revenue.

IDeaS Advantage, the company’s consulting and strategy implementation division, works with global clients to address long-term pricing, forecasting and optimization challenges.

“We looked to IDeaS Advantage to help us maximize revenue while achieving optimal occupancy in relation to ticket pricing,” said Bill Nowicki, director of ticket operations, Carolina Hurricanes. “Challenged with striking a balance between our season ticket and ancillary revenue, we needed a solution that only a very specific science could provide. IDeaS Advantage provided a customized, first-of-its-kind strategy for our organization that we’re excited to implement and anticipate strong financial benefits.” 

Following a 360-degree onsite review of the Carolina Hurricanes’ current business practices, IDeaS Advantage provided a comprehensive revenue roadmap, a performance analysis and a process audit for the organization.  Based on key findings, IDeaS Advantage developed a customized strategic plan, which can be implemented in the current manual environment.

“The application of analytics to the business challenge of optimally pricing event tickets is a natural extension of IDeaS’ core strength,” said Ravi Mehrotra, president and founder, IDeaS.  “We worked with the Hurricane’s to understand the unique variables surrounding particular events which impact optimal pricing and to uncover opportunities for improved customer segmentation.  These are just a few examples of the value we have provided to the management team to support their continued vision of innovative offerings to their customers.”

A client success story is available regarding the collaboration between IDeaS Advantage and the Carolina Hurricanes, containing details on the initial challenges and resulting revenue increase from the analysis:

IDeaS, a SAS COMPANY, is a premier provider of pricing, forecasting and optimization solutions and services. IDeaS’ Solutions are implemented via software-as-a-service (SaaS) deployment with very little infrastructure, guaranteeing small upfront costs and easy implementation. IDeaS’ Advantage and IDeaS for Success services help at all levels of a client’s organization—strategic through operational— and IDeaS' integrated approach differentiates it from the competition and creates the foundation for a successful partnership. Headquartered in Minneapolis, IDeaS has technology, support, sales and distribution offices in North and South America, the United Kingdom, Europe, Africa, the Middle East, Australia and Asia.

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