The Dataset:
For this analysis, I chose the following dataset from Kaggle.
The Business Case:
A client X has hired us to do some business analysis of the restaurant offer in Bangalore, India. The client is interested in opening a new restaurant and is open in terms of the theme and the type (food chain/ fancy restaurant). X just wants it to be different and, of course, successful.
The Approach:
In order to determine the formula for success I researched the general trends from highly rated restaurants (affordable and expensive ones). Did they offered online order? Where were they located? Which food did they offered? What is their cost?
The Conclusions:
General trends from the restaurants
1) Most of the restaurants offer online order (59%)
2) The majority of restaurants do not offer the possibility to book a table (87.5%)
3) Almost 50% of restaurants has rating between 3 and 4.
4) Restaurants having rating more than 4.5 are very rare.
5) The top 5 preferred cuisines are: North Indian, Chinese, South Indian & Biryani
6) The average cost for 2 pax is 555. Which means that there are more cheap restaurants than expensive ones.
7) The top 5 neighborhoods with restaurants are: BTM, Koramangala 7th, 5th, 4th & 6th Block
8) It looks like there is a moderate correlation between average_cost and rates and votes, which is expected.
There is a strong correlation between average_cost and the option to book a table. We can venture that if you can book a table,
the restaurant will most likely be expensive.
General trends from affordable restaurants
1) Most of the restaurants do not offer table booking (60.5%).
2) The top 3 preferred cuisines are: South Indian, Modern Indian, North Indian.
3) The top 3 locations are: BTM, Brigade road, Malleshwaram.
4) The top 3 offered dishes are: chicken, pizza & pasta/ & The drinks: cocktails & mocktails.
Trends from expensive restaurants (Please note that the sample is too small to generalize)
1) Do not offer online order.
2) They offer the possibility of booking a table.
3) Cuisines: thai, mangalorean & italian.
Recommendations to open a new restaurant
a) Chains are popular, so if the first restaurant goes well then I would invest in turning it into a chain.
b) Offer online order and table booking - it could be a differential added value.
c) Cuisine: there are no good cheap Chinese or Biryani restaurants.
d) Location: there are no good cheap restaurants in Koramangala 4th Block, Jayanagar, Koramangala 7th Block or Koramangala 5th Block.