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How would you calculate the daily average bookings based on historical data? In your opinion, what key factors significantly impact this metric?

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Answers

Anonymous

4Strong
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.
  • How would you calculate the daily average bookings based on historical data? In your opinion, what key factors significantly impact this metric?
  • What methodology would you use to determine the average bookings per day? What variables do you believe are critical in influencing this outcome?
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Interview question asked to candidates interviewing at top companies: How would you calculate the daily average bookings based on historical data? In your opinion, what key factors significantly impact this metric?.