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.
- Provide general information about your project here. You are 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.
- What is the background of your project? 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.
- What is the business probem that your project is trying to solve? 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.
- What is the dataset that is being used? We have been provided with day csv with 16 columns and Data dictionary to have a better understanding of the column names.
- BoomBikes must focus more on Temperature as we see increase in bike rentals.
- We can see demand for bikes was more in 2019 than 2018, since there is an increase in 2019 which was post pandemic, things will get better
- Can focus more on Summer & Winter season, September month, Weekends especially on Saturday, Working days as they have good influence on bike rentals.
- We can see windspeed has negative coefficients and negatively correlated to bike rentals. So the company can give some offers to increase the demand.
- Now seeing to weathersit variable, we have gotten negative coefficients for Bad/LightRain and Moderate/Misty weather. And this could be better opportunity to present offers.
- Python - version 3.8
- Panda - version 2.0.3
- Matplotlib - version 3.4
- Seaborn - version 3.0
- sklearn - version 3.0
- statsmodels - version 3.0
- IDE - Jupyter Notebook - version 6.5.2
Give credit here.
- This project was inspired by...
- This project was based on [BoomBikes]
Created by [@PreranaKrishna] - feel free to contact me!