How do you find out average number of bookings for a given day. What factors do you think will play a crucial role?

Question

Anonymous · Accepted Answer

To calculate the daily average bookings, using historical data, I would first
add up all the bookings in the time-frame under consideration, then divide by
the number of days in said time-frame. Of course, the key factor here is which
time-frame to use. A shorter time frame maybe more sensitive to special events,
like holidays, promotions or system outages, however it could also be a more
timely indicator than say a longer time-frame, like the daily average bookings
measured over the past 2 years. If the daily average over the past week is
trending higher, this time-series maybe more informative than say the daily
averages using 2 year time-windows. Now, depending on the event, you could
simply ignore the days where the event happened, e.g. don't include the day of
the system outage. Alternatively, you could the time-series of daily averages
and smooth the time-series, either with a moving average or try something more
complicated like loess. Lastly, there are seasonal factors too that may effect
the time-series, which can be decomposed into components to better understand
the trend.

Anonymous · Answer

To calculate the daily average bookings, using historical data, I would first
add up all the bookings in the time-frame under consideration, then divide by
the number of days in said time-frame. Of course, the key factor here is which
time-frame to use. A shorter time frame maybe more sensitive to special events,
like holidays or system outages, however it could also be a more timely
indicator than say a longer time-frame, like the daily average bookings measured
over the past 2 years. If the daily average over the past week is trending
higher, this time-series maybe more informative than say the daily averages
using 2 year time-windows.

How do you find out average number of bookings for a given day. What factors do you think will play a crucial role?

Practice this question with AI

Go Premium

Practice More Questions

Community Answers

Unlock Community Insights

Unlock Community Insights

Stop Winging It. Start Using Frameworks.