👉 Bookings math involves calculating the expected revenue from customer bookings by considering factors like the probability of a booking occurring and the average revenue per booking. The basic formula is Expected Revenue = Probability of Booking × Average Revenue per Booking. For instance, if there's a 70% chance of a customer booking and each booking generates an average of $100, the expected revenue would be 0.7 × $100 = $70 per customer. This concept helps businesses forecast income and optimize pricing strategies, but it assumes probabilities are known and constant, which might not always be the case in real-world scenarios.
