BTS live concerts happened all around the world.

Choosing an appropriate forecasting technique

to predict its sales would be using a quantitative method with Trend Models. This is the most
appropriate technique available from all the given because BTS is a trend including, but not limited to
businesses, social media, and popularity. Yet, for a more precise outcome, researchers should consider
adding more techniques such as survey, moving average, seasonal, and casual regression models. But, in
exchange for accuracy, costs for the management would be dealt heavily.

Besides from using other techniques, trend models would be the most suitable for predicting
ticket sales of a live BTS concert because there are factors that best matches the given technique. Also,
BTS live concert happened a number of times in the past that provides historical data which is of an
important asset for determining accuracy. And the amount of historical data needed to be considered is
at least 10 observations. Aside from historical data, BTS data patterns supposedly are of trend.
Furthermore, the forecast horizon is also reasonable because BTS is still hyped and a growing demand to
the young generation, and the preparation time is quick.

Since BTS already made a quality branding out of its popularity, plotting data using trend models
can easily determine the nature of the trend. In addition, a variation of simple exponential smoothing
called trend-adjusted exponential smoothing, is made available to trend modelling to appropriate data
when it gradually changes. So, managers can conveniently predict ticket sales of BTS with graphs of
positive or negative trend equations considering random variations and unexpected changes.

Surveying can be more appropriate than trend analysis. Considering the time period between
performances of BTS is short and the economic changes due to the pandemic, forecasts based on
opinions can be useful in predicting its ticket sales. But there are serious disadvantages to its benefit,
errors in judgment due to unexpected changes and bias can lead to a gravity of errors that will create an
inefficient forecast. I suggest that surveying and trend analysis go together to produce an efficient
forecast for the ticket sales of BTS. Rather than using other quantitative measures to support trend
analysis, surveying is recommended as it does not cost much, and it will not produce high operating
expenses. And adding more than one quantitative method with high accuracy profiles can not only
result to costly expenses, but lack of important details from external factors.