2024 Stanley Award Goes to Dallas Stars for AI & Analytics Innovation

Published Date: 13/07/2024

The Stars received the 2024 Stanley Award in Strategy, Analytics, and Innovation for their dynamic ticketing initiative, leveraging AI to aid in strategy for ticket sales.

The Dallas Stars have been recognized for their innovative use of analytics and artificial intelligence (AI) in their ticket sales strategy, earning the 2024 Stanley Award in Strategy, Analytics, and Innovation. The award was presented during the annual NHL Club Business Meetings in Boston.

The Stars' dynamic ticketing initiative was developed by the Ticket Sales, Business Strategy, and Analytics & Ticket Operations departments. Director of Business Strategy and Analytics Benjamin Yoder explained that the team used AI to meld with their own analysis to create new ideas for selective pricing. The work done by Yoder and Senior Analyst Jed Buchholz created a platform that could respond to changes in the market.

The Stars' use of analytics and AI is crucial throughout the entire organization, enabling them to process large amounts of raw data and turn it into useful information. This data-driven approach has resulted in a current sellout string of 68 games and a higher rate of attendance.

Yoder explained the process of using an AI neural network to act as a third analyst on the team, making pricing recommendations based on available inventory, secondary market conditions, and current prices. This approach has made the implementation process five times faster.

The business analytics department also helps with television ratings, merchandise sales, and food and beverage sales. They are skilled at analyzing data and making it useful for the organization.

The Stars' use of analytics and AI has become integral to their operations, and they are now considered a model for other teams in the NHL.

Other recipients of the 2024 Stanley Award include the Anaheim Ducks, Boston Bruins, Calgary Flames, New York Islanders, Philadelphia Flyers, Vegas Golden Knights, and Washington Capitals.

FAQS:

Q: What award did the Dallas Stars receive?

A: The Stars received the 2024 Stanley Award in Strategy, Analytics, and Innovation.

Q: What was the award for?

A: The award was for their dynamic ticketing initiative, which used artificial intelligence to aid in strategy for ticket sales.

Q: How has the use of analytics and AI impacted the Stars' ticket sales?

A: The Stars have seen a current sellout string of 68 games and a higher rate of attendance as a result of their data-driven approach.

Q: What other areas of the organization does the business analytics department help with?

A: The department also helps with television ratings, merchandise sales, and food and beverage sales.

Q: How has the use of analytics and AI become integral to the Stars' operations?

A: The Stars now consider their business analytics department an 'insight center' that helps solve problems and makes decisions across the organization.

More Topics :