overbookings
Overbooking is a common practice in certain industries, particularly in transportation and hospitality, where a company sells more reservations or tickets than it has available capacity. The primary goal of overbooking is to compensate for anticipated no-shows or cancellations. By selling extra spots, businesses aim to maximize their utilization of resources and prevent empty seats or rooms that would otherwise go unsold.
The practice relies on historical data and statistical analysis to predict the rate of customers who will
While overbooking can be beneficial for businesses by increasing revenue and efficiency, it carries the risk