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We are a group of Data Science and Analytics students from NUS working on optimizing entertainment and attraction prices. We will focus on price optimization for SkyHelix, Singapore's highest open-air panoramic ride. This wiki page is divided into two main sessions: the dashboard and the model.
In the dashboard session, we outline the platform and features of our product. We also offer visualizations of product-specific data, which include occupancy rate and product revenue, as well as factors that impact product performance, like competitor prices and tourism information.
In the model session, we introduce the type of model we used and its parameters. We also explore how the model generates the optimal ticket prices, and how we tested if the model was working.
On the model visualization page, we will offer business stakeholders the ability to project ticket sales and revenue while adjusting for the number of visitors and experimenting with different prices. The model will also suggest optimal pricing to increase product sales and revenue, helping businesses make data-driven decisions on product pricing.
Mount Faber Leisure Group is a Singapore-based company that focuses on developing and managing leisure and lifestyle attractions. The group is known for its diverse portfolio of offerings, including tourist attractions, entertainment venues, and recreational facilities. Some of its well-known assets include the Singapore Cable Car, SkyHelix Sentosa, and the Faber Peak Singapore. The group aims to enhance the leisure and entertainment experiences for locals and tourists visiting Singapore. Its attractions often highlight the natural beauty of the area while also providing various entertainment and recreational activities for visitors of all ages.
The target audience for the project includes strategy team, pricing team, marketing team and finance team of any organisation. The project delivers a comprehensive dashboard equipped with data visualizations and pricing simulation tools to facilitate informed decision-making and insights into the tourism market.