New Release | AI Forecast: Cultural Ticketed Events for HotSchedules | Jul 8 2025

What’s New?

Fourth has implemented functionality that incorporates 'ticketed cultural events' into its AI Forecast. This enhancement has led to significant improvements for some of our customers and their locations in close proximity to venues (theatres, arenas, stadiums, etc).

• We have integrated information for upcoming events such as concerts, plays and various others into our list of AI Forecasting features
• Locations are associated with venues based on geolocation in a range of up to 5km based on available data, which, through experimentation, was determined to be the optimal range
• The AI model assigns an impact scale to each ticketed event category group, analysing how these events influence sales at individual locations
• This comparison helps determine the most likely impact each event could have on a location, enhancing the accuracy and reliability of the models

This enhancement is enabled by default and can be enjoyed by HotSchedules customers whose forecasts are generated by Fourth's AI Forecast engine.

Analysis of the Results

The new ticketed event forecasting feature has achieved an average reduction of 1.5 percentage points in Weighted Absolute Percentage Error (WAPE) across a subset of US HotSchedules customers.

This follows on from a recent similar UK release. 

Release date: July 8th 2025