Welcome!
We have all encountered an Airbnb although some experiences might have been better than others. Did you know there are investors that purchase properties just to put it as a rental on Airbnb? In this project we will use our data analysis and visualisation skills to help investors decide which suburb/neighbourhood from your chosen city they should invest in next.
This project will require:
- Project planning
- Data cleaning
- Data analysis
- Data visualisation
Check out the challenges section below for guidance. Be sure to post your progress, ask questions or find teammates in the #airbnb channel under the project section in Discord. We can't wait to see what everyone comes up with!
The Goal
Using the open source airbnb dataset from below, build a dashboard to help property owners and investors understand the Airbnb property market.
You need to:
- Choose one of the cities from the 'inside airbnb' website
- Download your data
- Clean your dataset
- Build a dashboard to visualise your data. Tell a story, describing the Airbnb property market for your chosen city.
- Keep in touch through the #airbnb project channel
- Share your project with us when you're done!
We'll be working alongside you uploading example content such as SQL & Python scripts, Tableau dashboards & other documentation over time. If you get stuck at any point or would like some direction, head over to the #airbnb project channel.
Data Sources
Inside Airbnb: http://insideairbnb.com/get-the-data.html
Top Tips
- Take time to ask questions and really interrogate the problem. What might investors be interested in? Why would they want to know this information? How can we provide value to the customer?
- Remember: garbage in, garbage out! Make sure your data is clean before putting the hard yards in with data analysis and visualisation.
- Keep an MVP (minimum viable product) mentality. Start small, build a functioning prototype on a small amout of data, then iterate!
- Make sure your data visualisation tells a story. Try to keep in mind the question you're trying to answer.
Challenges
Beginner
Create a dashboard to describe the Airbnb property market by showing the number of properties with specific property attributes
- How can we help property owners and investors get a high-level overview of the property market?
- What is the average rental price for apartments in your chosen city?
- What number of bedrooms is the most common?
- What proportion of Airbnb rentals have a swimming pool, air-conditioning, washing machine, etc?
Intermediate
Create an interactive dashboard to explore the property market. Build on the beginner level by allowing users to filter data directly from the dashboard.
- How can we help a property owner understand the market and compare their property to others nearby?
- If I own a 2 bedroom apartment with a swimming pool in the centre of your chosen city, how much would I be able to rent it for?
- How many other properties are similar to mine?
- Can you bring in any external data sources to support your dashboard, e.g. transport stations, distance to airport, schools, etc
Advanced
Build an interactive dashboard with your own custom metrics to evaluate the state of Airbnb property markets.
- What factors might impact whether an Airbnb rental is a successful investment?
- What data can we provide to a property investor to help them decide where next to buy a property?
- Can we make the market measurable through a custom evaluation metric, eg "Amsterdam has a stable tourism industry year round and the demand for properties is higher than the supply. It is an A+ investment. Barcelona's tourism industry is highly seasonal & demand is low. It is a B- investment.)
