A group of investors in the US are wondering whether or not to invest in a business with the same model as CitiBike. They want to gain some insights regarding volume of rides, demographics, peak days and hours, subscribers vs customers, among others. The data available to the public is very large and the investors would like to have some visuals and a summary of insights.
The purpose of this analysis is to help potential investors in the Bikeshare business to gain insights from CitiBike NYC data, the target market, and the demographics of consumers to build the business plan.
One month data is analyzed from the CitiBike operation in the city of New York. The month analyzed is August due to the good weather conditions. Some external data from research such as price of rides and cost of mainteinance of bikes was included in the analysis.
The dataset contains 2,343,746 rows that correspond to rides. One of the columns of the dataset, tripduration, was converted to Datetime data type using Python. We can see the result of the conversion in the following image:
- 81% of the demand was generated by subscribers
- 72% of the demand came from male
- Most representative ages are 25 to 30 years
- Thursday is the day with the higherst demand by subscribers
- Saturday and Sunday are the best days for ocassional customers
- Most rides are in between 0 and 30 minutes and took place in Manhathan
- 8 am, 5 pm, and 6 pm are the busiest hours for week days
- More data is required to calculate revenue and operational cost
- There are two types of users: occassional customers and subscribers. Customers represent the 19% and Subscribers represent the 81% from the total rides.
- The vast majority of rides in both groups were in between 0-30 minutes.
- A small portion of the revenue was calculated for customers. We multiplied the number of 0-30-minute rides for customers times $3.5, which is the price published on the CitiBike's website.
- It is necessary to get more data to understand how many unique subscribers rode in August and be able to calculate the accrued revenue for those using the monthly subscription price.
- As we can see, the majority of the rides occurred in Manhathan. Also, the vast majority of rides were short, in between 0-30 minutes.
- There are a total of 13,983 bikes that were used in the month of August.
- The cost of mainteinance of a bike goes from $58 to $140. We calculating the cost using $120 as an estimate for mainteinance per bike.
- We recommend obtaining more data that help us understand how ofter bikes are taken for maintainance. Some bikes might not be used very much and might not require maintainance as ofter as others.
- Female represent 28% and male 72% of total rides
- When we analyze customers vs subscribers by gender, we can see that the two genders follow the same pattern.
- The vast majority of rides showed riders between 25 and 30 years old.
- As we can see 8 am, 5 pm, and 6 pm are the times of higher demand for both genders
- Thursday is the day with the most subscriber rides for male and female
- Saturday and Sunday are the best days for customer rides both male and female
- Most trips are less than 30 minutes
