Qcue: Leveraging Analytics to Foster Dynamic Pricing

Barry Kahn, CEO
Evolving into a technology that predicts the future, business analytics has certainly paved a productive path for myriad enterprises trying to manage colossal amounts of unstructured data. In today’s modern technological landscape, analytics can be deployed across a diverse range of industries and platforms in a bid to streamline the decision-making process. But, in industries such as sports, analytics has always been a massive hurdle due to the variable chain of events that occur in a game; impacting overall revenue and business performance. Identifying this underlying turmoil that acts as a barrier between analytics and the success of sports technology. Austin, TX headquartered Qcue injects its unique level of expertise in analytics by delivering actionable insights on dynamic tickets pricing–– which constitutes a major part of the revenue. Recollecting past days of the sports industry, Barry Kahn, CEO of Qcue, states that, “Previously teams used to set their prices six to nine months in advance, when they have no idea what is ahead of them.”

Ever since its foundation in 2007, Qcue guides the sports industry towards stability; leveraging analytics and gaining insights on future events. Acknowledging the fact that most of the profits earned in sports depend on fortune, teams and clubs deployed the company’s dynamic pricing application. The result was predictive––they were able to foresee the future and alter their ticket pricing models accordingly. Talking about the company’s first steps in analytics, Kahn says, "When we started off, it was very 'learn as you go,’ based on the philosophy that 'things are going to change and we'll react to that.' Now, when we're working with clubs and setting prices at the beginning of the season, we're also trying to set a whole sales path so they can better predict where prices are going to end up.”

Qcue, long after the release of their first application––the Dynamic Pricing in 2009, perceived the need to develop additional applications and fortify the entire ticket pricing scenario.


When we started off, it was very 'learn as you go,’ based on the philosophy that 'things are going to change and we'll react to that


In 2014, with an aim to portray an overview of the upcoming season of events, the company released its Q-Line application integrated with interactive maps. Furthermore, the application displays pricing information with specific details, which is also a crucial process staged before directing users to the ticketing system.

A year later, Qcue developed its third application––the Reseller intended for professional ticket brokers; this time, recognizing the need for simplification in pricing management. The application combines industry-crucial data with the efficiency of pricing intelligence and workflow automation; ultimately bringing them to a unified location.

Sports analytics has indeed become a wider platform now––embedded with the ability to gather data and stimulate scenarios much earlier than the actual event. In the coming years, most teams and clubs across the globe will be focused on analyzing profits based on dynamic algorithms. Apart from the primary offerings, pinpointing the company’s supporting element, Kahn comments, “The other big driver is obviously sales. At the end of the day customers really tell us what games they are interested in by buying tickets or not buying tickets.” Looking forward and plunging towards higher levels of innovation, Qcue plans to launch a new product in 2017––which it claims to be revolutionary.

Company
Qcue

Headquarters
Austin, TX

Management
Barry Kahn, CEO

Description
Creates a dynamic pricing engine for live entertainment events, changing the way sports and entertainment tickets are priced