Since the release of Tessitura v15, we’ve been getting a lot of questions about the kinds of reporting you’ll find in Tessitura Analytics compared to the reports you’re used to in the Revenue Management Application (RMA). The truth is—the two work together, side by side, and we wanted to take a moment to explain how!
The RMA now comprises two things: First, the desktop application, in its latest version RMAv6, with all the features you know and love, plus new ones. Secondly, RMA Dashboards inside Tessitura Analytics. Tessitura Analytics and the dashboards that Tessitura provides within it are built using Sisense, a data visualization software that we at JCA have been working with for other products for a long time. So, we’ve used our Sisense expertise to create RMA Dashboards that live directly within Tessitura Analytics. These are customized dashboards specifically for RMA licensing organizations, so you can get the benefits of our proprietary RMA measures and reports, plus your RMA forecast figures, right where you get other kinds of reporting.
RMA Dashboards mean that you don’t have to spend time building reports within Tessitura Analytics to mirror what you’re used to looking at in the RMA—we’ve already done that work for you. All you have to do is modify filters to see your sales trends. However, this doesn't mean that you no longer need the RMA in its desktop form. Tessitura Analytics is all about data visualization, displaying your core Tessitura data in a very flexible format. The RMA desktop application can be used to code and group your data and to set forecasts, in addition to being a great visual tool.
The functionality that the desktop RMAv6 provides, that is not currently available in Tessitura Analytics, includes:
- Forecasting: Using the RMA’s Forecasting Module, you can build nuanced forecasts based on comparators, which recognize differing demand for individual performances. The new “Production Wizard” allows you to build a number of different forecasts for a run/group of performances in just minutes.
- Custom Groupings: The RMA allows you to group together any performances, price types, or pricing rules, into as many groupings as you like. This allows you to complete hyper-specific analyses such as: How do preview performances perform compared to the regular run? What happens to sales for shows during extreme weather events? How do shows on or around holidays perform? How far in advance of the performance do discounted tickets sell? In v6, you can import your Performance Keywords into the RMA as well.
- Dynamic Pricing Impact: The RMA gives you precise, visual reporting about the effects of dynamic pricing down to the zone, week in the sales cycle, and price type using proprietary measures. This makes it easy to see how much incremental income you’ve made from dynamic pricing, even on tickets that weren’t sold at full price. It also helps you optimize your future dynamic pricing plans.
- Price Modeling: Using the In-Season Model, you can model the impact that price changes will have on your potential revenue and income.
- Creating Pricing Events: Also using the In-Season Model, you can write price changes that you’ve modeled directly back to Tessitura (subject to your pricing set up).
- Baker Richards Hotseat IndexTM: The complete version of the Baker Richards Hotseat IndexTM is only available in the RMA. Using custom groupings, it’s easy to configure to look at specific groups of performances or ticket buyers by price type.
All in all, the RMA remains the premier tool for decision-making specifically around pricing, forecasting, and inventory management. Now, it has the added benefit of giving you many of the insights you love directly in Tessitura Analytics through RMA Dashboards.
If you have additional questions about RMA functionality, how it works with Tessitura Analytics, or how the two pieces of software differ, please contact us at RMA@jcainc.com. A member of our team will be happy to review your needs and provide you with guidance for how to be successful in your strategic decisions around pricing, forecasting, and inventory management.