Difference between revisions of "Business Mafia Proposal"
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== Project Motivation == | == Project Motivation == | ||
| − | + | A significant proportion of Airbnb hosts rent out portions of their own homes to generate additional side income. Instead of relying on a robust approach when setting prices, they tend to do so intuitively, relying on gut feeling. Our group hopes to offer these homeowners an alternative way to price their listings - through an amalgamation of factors such as their listing's geographical location and its relationship with Downtown Seattle. | |
| − | + | However, the primary challenge here is simplifying and summarising the technical, complex analytics techniques into layman terms; it would require breaking down the technical jargon associated with it. In order to carry this out effectively, we created an RShiny Application which would guide owners systematically through the thought process. This would allow owners to not only derive the final proposed listing price, but also better understand our thought process and methodology behind the derivation of the price. | |
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Revision as of 18:13, 21 March 2019
Contents
Project Motivation
A significant proportion of Airbnb hosts rent out portions of their own homes to generate additional side income. Instead of relying on a robust approach when setting prices, they tend to do so intuitively, relying on gut feeling. Our group hopes to offer these homeowners an alternative way to price their listings - through an amalgamation of factors such as their listing's geographical location and its relationship with Downtown Seattle.
However, the primary challenge here is simplifying and summarising the technical, complex analytics techniques into layman terms; it would require breaking down the technical jargon associated with it. In order to carry this out effectively, we created an RShiny Application which would guide owners systematically through the thought process. This would allow owners to not only derive the final proposed listing price, but also better understand our thought process and methodology behind the derivation of the price.
Project Objective
Through our project, we aim to:
- Derive individual walking distance between various key attractions and Airbnb listings in Downtown Seattle
- Analyse the spatial relationships between various key locations and Airbnb listings in Downtown Seattle to determine if the listing's location to key places affect its listing price
- Through the use of Local Geographical Weighted Regression (GWR) Model, we hope to help Airbnb owner(s) determine the better pricing for their listing(s).
Our Datasets
| Data | Source | Data Description | Source URL | Data Type |
|---|---|---|---|---|
Literature Review
Sources:
- https://towardsdatascience.com/airbnb-rental-listings-dataset-mining-f972ed08ddec
- https://www.airbnbcitizen.com/the-airbnb-community-in-seattle/
- https://stanleyadion.shinyapps.io/AmazeingCrop/
Our Methodology
Project Storyboard
Application Overview
Our Findings
Reflecting on our project
Project Timeline
