Problem Statement: 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.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.
The company wants to know: 1)Which variables are significant in predicting the demand for shared bikes. 2)How well those variables describe the bike demands
Goal: Develop a model to find the variables which are significant for the demand for shared bikes with the available independent variables. It will be used by the management to understand and manipulate the business strategy to meet the demand levels and meet the customer's expectations.
INTERPRETING THE RESULTS: Analysing the above model, the comapany should focus on the following features: Company should focus on expanding business during Spring. Company should focus on expanding business during September. Based on previous data it is expected to have a boom in number of users once situation comes back to normal, compared to 2019. There would be less bookings during Light Snow or Rain, they could probably use this time to serive the bikes without having business impact.