|
|
Upcoming Seminars:
Leveraging analytics to build a fan base - the Washington Nationals
Speaker: Scott Lewis, Director,Consumer Marketing - Washington Nationals
Abstract:
Regardless of the sport, all major professional leagues are challenged to sustain and drive in-game attendance. This challenge is especially acute in Major League Baseball (MLB) due to having twice as many games and twice the seating capacity of NBA and NHL arenas. For the Washington Nationals, this means filling 3.2 million total seats across an entire season. The Nationals are MLB's youngest franchise, having relocated from Montreal for the 2005 season. Their first season represented the first time in 35 years that the nation's capital had a team of its own - attendance was strong. Since that brief honeymoon year however, the Nationals have spent the majority of their eight seasons in the bottom third of the league in attendance. Recently, the team has managed some of the largest increases in attendance league wide by leveraging fan insight and analytics to build its fan base. For example, the Nationals now understand the key factors that drive attendance, the preferences and consumer decision-making of its fans and how to profile new fans to better market to their needs. Further, the team has also extended its use of analytics to engagement via social media and maximizing ticket sales revenues via dynamic pricing.
Thursday, May 2nd 5:45 PM - 7:00 PM
Location: Duques 651 (2201 G Street, NW))
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Pricing Optimization in Consumer Lending
Speaker: Robert L. Phillips, Columbia University Business School and Nomis Solutions
Abstract:
Pricing of consumer credit was long considered to be straightforward. However, the recent financial crisis has demonstrated that a significant fraction of outstanding consumer credit was mispriced. Furthermore, mispricing and misallocating consumer credit can have severe consequences for the global economy. Risk-based pricing has been the state of the art for credit pricing for many years. More recently, lenders have begun to adopt pricing optimization approaches that consider customer willingness-to- pay in addition to risk in setting prices for credit. We describe the pricing problem facedby provides of consumer credit. We focus on aspects of the consumer pricing problem that differ from other markets - in particular, the uncertainty of the return on a loan, the role of information, the use of front-line discretion and the interaction between pricing and risk. We describe how these aspects of the consumer pricing problem can be incorporated into the determination of optimal rates. Finally we discuss current challenges and open research areas, specifically focusing on behavioral economics.
Thursday, May 2nd 7:30 PM - 8:45 PM
Location: Duques 255 (2201 G Street, NW))
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------