Helping bike sharing provider to understand the factors on which demand for shared bikes depends on
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.
In such an attempt, BoomBikes aspires to understand the demand for shared bikes among the people after this ongoing quarantine situation ends across the nation due to Covid-19. They have planned this to prepare themselves to cater to the people's needs once the situation gets better all around and stand out from other service providers and make huge profits.
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 demand for shared bikes.
- How well those variables describe the bike demands
- temperature seems to have high influence on the total rental bikes since total rental bikes demand increases by ~0.44 for unit rise in temperature while other dependentvariables are held constant
- Weather seems to have high influence on the total rental bikes. During a bad weather() Light Snow, Light Rain + Thunderstorm + Scattered clouds, Light Rain + Scattered clouds), total rental bikes demand decreases by ~0.30 when weather is light snow while other dependent variables are held constant
- Total rental bikes demand had increased in the Year 2019 (total rental bikes increases by ~0.23 when the year is 2019 while other dependent variables are held constant). It indicates that the demand for shared rental bikes increases year by year based on the given dataset
Python 3.x
- pandas - version 1.1.4
- matplotlib - version 3.5.1
- seaborn - version 0.11.2
- sklearn - version 1.0.2
- statsmodels - version 0.13.1
Created by @SathishKumarRamasamy - feel free to contact me!