In this informative video on Overbooking: Introduction for our Operations and Revenue Analytics course, we explore the critical strategies businesses use to manage customer bookings effectively. We will begin by defining key Terminology related to overbooking and discuss the various forms of Compensation that may be offered to customers in case of service denial. The video will also examine the Costs of Service Denial, highlighting the financial implications of not meeting customer expectations. Additionally, we’ll introduce a Model of Customer Booking to illustrate how demand forecasting influences overbooking decisions.