Identify a city or region you are interested in studying and a potential business idea that you would want to write about. Note: not all cities and regions are available to select from for this project (see the AirBnB Datasets for a listing of available cities and regions).
Download the data set that corresponds to your city or region which includes AirBnB data on listings available in that area. AirBnB is an online marketplace and hospitality service that connects hosts and travelers. The purpose of this project is to analyze data on your chosen city or region to support a business idea.
After reviewing the data set and data dictionary, think of which variables would be relevant for a business decision maker to know. What could an entrepreneur do with this data? How could you use this data to open a business? Get creative. Your purpose should be comprehensive enough for you to gather additional information and/or research the topic, analyze the data set, draw conclusions, and prepare a PowerPoint. Your idea(s) must be appropriate for our class curriculum and will need to be approved by the instructor based on the initial assignment.
FOR EXAMPLE: I want to open a bike and wine tour in Montreal, Canada, and one variable from the data set I can analyze is the number of guests that the AirBnB rentals in the city/region typically accommodate so I can market on my website that my business offers group discounts. This first assignment is to assist in organizing your work for the research project. It includes choosing a city/region and business idea, identifying variables of interest, selecting secondary sources, and developing a project timeline. Developing a timeline will help you with time management and ensure you are on top of key due dates.
Write a one page proposal that includes the following:
- Identify which CITY/REGION you want to study and why.- I picked Capetown, South Africa (Rand currency) See the folder labeled AirBnB Data Sets for available options
- Identify the BUSINESS IDEA that you intend on using the AirBnB data set for. Why is this a good business idea?
- Which VARIABLES OF INTEREST in the AirBnB data set are relevant to your project and why? Pick at least 2 variables.
- Include SECONDARY SOURCES to research your topic. You need a minimum of 2. List your sources and provide specific information on how you’ll use them. For example, you might use Yelp as a secondary source to see how many wineries are in Montreal, or use the US Census Bureau to look at population trends.
- Develop a PROJECT TIMELINE. Make sure to review the syllabus (see Week 1 folder in Canvas) for exact due dates on the project components. Include in your timeline:
- Estimated time to work on Part #2 Descriptive Statistics
- Estimated time to analyze data for Part #3 Inferential Statistics
- Estimated time to reflect for Part #4 Discussion Board Post
- Estimated time to prepare Part #5 PowerPoint
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