Project information

  • Category: Uber_Lyft_Price_Prediction
  • Client: Academic UConn
  • Project date: Fall 2022
  • Project URL: Code Link

In a dynamic ride-sharing market where prices are influenced by factors like time of day and weather conditions, there is a need to understand and optimize the pricing strategy for ride-sharing services like Uber and Lyft. The goal is to uncover the underlying patterns and determinants of demand. Key questions include understanding if there are specific times, days, or weather conditions that drive increased demand or surges in pricing, and whether external events, such as sports matches, impact ride requests. The project aims to provide insights into when and why ride-sharing services experience fluctuations in demand and prices, enabling these companies to adapt and tailor their pricing and resource allocation strategies more effectively to meet user demand while maintaining price competitiveness