Have Text, Will Travel: Can Airbnb Use Review Text Data to Optimize Profits? Case Study Help
This is the best data collection strategy and a way for your marketing team to gain an edge over the competition. The use of the website for data collection is a new method. Markets like Yelp, have successfully accomplished this goal. However, the Airbnb website has become more convenient to help them explore business texts and find practical insights. Using this method, the software can extract the data from multiple pages, in a short period of time. Things get done faster much faster this way.
Data Analysis:
The Excel’s regression assistant has been used to calculate the potential income of the property on Airbnb, using the available data. Once the data is imported into Excel; it is then reduced to the available variables. The score calculates the average of the positive and negative words in the sentence. So, for example: if someone gives a very positive picture of a place, using words like “excellent,” “perfect,” or “amazing,” the sentiment score will be 37.335. However, if someone gives a very negative rating with words like “bad”, “terrible” and “dirty”; the score will be negative.
Drivers:
There are several factors that increase the real estate revenue in Miami and Paris. Price plays an important role in encouraging the people to travel and stay in rental properties. Another driver of real estate revenue is the number of rooms and the fact that people rent an entire house, a private room, or a common room.
Recommendation
When comparing the two prices; firstly, there is a requirement to optimize the real estate incomes in Miami and Paris. Prices in Paris seem more expensive than they are in Miami, so it might be a trader and see what it can do to adjust to the price in a better manner. The Paris strategy might be different, because it isobvious that they operate differently in Europe than they do in the United States. So, in this case;I will take a different approach, i.e. to use the opportunities that are specific to the region.
In the case of Miami, itevaluates the properties offered to the users based on determinants, such as: the number of bedrooms and whether a full rental of the house is required. Itis observed, that during the spring break; more people rented the whole house and to a lesser extent anapartment. I will use this attitude to predict the strategy. This situation has several advantages. In addition, price is the most important factor, because hopefully people can pay for our services..............................
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