A US bike-sharing provider BoomBikes has recently suffered considerable dips in their revenues. They have contracted a consulting company to understand the factors on which the demand for these shared bikes depends. Specifically, they want to understand the factors affecting the demand for these shared bikes in the American market. The company wants to know :
Which variables are significant in predicting the demands for shred bikes. How well those variables describe the bike demands.
- A bike-sharing system is a service in which bikes are made available for shared use to individuals on a short term basis for a price or free. Many bike share systems allow people to borrow a bike from a "dock" which is usually computer-controlled wherein the user enters the payment information, and the system unlocks it. This bike can then be returned to another dock belonging to the same system.
- A US bike-sharing provider BoomBikes has recently suffered considerable dips in their revenues due to the ongoing Corona pandemic. The company is finding it very difficult to sustain in the current market scenario. So, it has decided to come up with a mindful business plan to be able to accelerate its revenue as soon as the ongoing lockdown comes to an end, and the economy restores to a healthy state.
- I am required to model the demand for shared bikes with the available independent variables. It will be used by the management to understand how exactly the demands vary with different features. They can accordingly manipulate the business strategy to meet the demand levels and meet the customer's expectations. Further, the model will be a good way for management to understand the demand dynamics of a new market.
-
Temperature is the Most Significant Feature which affects the Business positively,
-
Whereas the other Environmental condition such as Raining, Humidity, Windspeed and Cloudy affects the Business negatively.
-
Company need to think how to tackle with bad weather condition and come up with sort of solution which protect users from Raining.
-
The Demand of Bikes is more in the Winter and Summer season, mostly user don't like to travel using Bikes in Rainy Day or Rainy Season.
-
It is interesting to see Specially Saturday People like to Rent a Bike more than other usual Days
-
Demand of Bike Rent has been significantly increased in the 2019 than 2018 so it is clear sign that Boom Bikes is doing a Business.
-
Even though without expending a single cent BOOM Bikes can expect their business to grow by 19%
Created by [@goutham-gv] - feel free to contact me!