Background:
With the help of Airbnb, people may let out their houses, flats, or even individual rooms to tourists. Offering an alternate kind of lodging for visitors, business travelers, and locals alike, Airbnb has revolutionized the conventional hotel industry with more than 7 million listings globally.
But given the volume of listings on the platform, it can be challenging for hosts to stand out and draw visitors to their properties. Data mining is then used in this situation. Hosts can learn a lot about what makes their listing appealing to potential guests and how to manage their home to increase their profit by examining the data accessible on Airbnb's platform.
Business Objectives:
The major objective of this project is to employ data mining techniques to help hosts boost their profit by giving them useful information about the success of their listings. This will be accomplished by examining the listing dataset, which includes all of the website-visible information about a listing, and the reviews dataset, which includes information on customer reviews for each listing.
By this approach, we hope to provide concrete responses to questions like: Can we forecast the potential profit from each listing based on its features? What are the main characteristics that attract guests to a listing? How can hosts make their listing more appealing to travelers so they can make more money?
The target audience for this project is Airbnb hosts who are trying to find ways to make more money from their listings. We want to assist hosts in achieving their business objectives and prospering in the highly competitive Airbnb market by offering them valuable advice and practical suggestions.
Business success criteria:
In this project, the main goal is to increase the profit of Airbnb hosts based on information about their listings. To achieve this, we have a listing dataset that contains all the information that the customer can see on the website about that listing, and a reviews dataset that contains date and reviews_id and listing_id.
The specific questions we want to answer with the data are to see if we can predict the profit each listing could make based on the listing features. The target audience for the project is the hosts who are looking to optimize their profits on Airbnb.
Measuring the success of the project is not just about an increase in profit but also giving a satisfied profit for every listing based on their features, which will lead to activate the market equally