Whilst we intuitively know that pricing can impact the attendance of activities such as experiences, exhibitions, seasons or one off events, looking at the data and visualizing the relationship can help us better understand that impact.
Introducing visualization #236: Activity v Price Correlation
By adding an average adult ticket price to Activities within the Alamanc, you can see the relationship between price and attendance using the Activity v Price Correlation Visualization (#236) on Dexibit.
This visualization plots a point for each Activity with the average adult ticket price on the x-axis and the average daily attendance for that activity on the y-axis. A correlation analysis is performed and represented by a line.
How to interpret the results
A downward sloping line shows a negative correlation, meaning as price increases, attendance decreases. An upward sloping line shows a positive correlation, meaning as price increases, attendance increases. If you spot outliers or data points that don’t fit the trend, overlay your knowledge of what might have contributed to that point of difference to help you understand the role of pricing in attendance. For example, an outlier may occur if the activity in question had a unique pricing structure or unusual level of promotion, or some other factor that may have led to a result outside the norm.
Note that this visualization is best used when you have a large number of activities and also enables you to filter by the different categories of activity; events, experiences or exhibitions.
In the example shown, the downward slope shows a negative correlation, indicating that as price increases, attendance at activities decreases.