Everyone has some kind of experience in entrepreneurship or at least got ideas to start a business. If you wanna really make that idea successful, you would probably start analysing different kinds of data yourself or you get a professional to do it.
Imagine a friend of yours saw people make money from their home by renting it out on Airbnb. Now the most reasonable thing for her to do if she also wants to earn by renting on Airbnb is to find the best locations to rent and seasons of demand so it can be rented out only during those times.
There might be other factors which she may not even know. To get insights about the location and home she needs to buy, It is advisable to do a market survey or analyse the existing data.
Let us help her analyse the data from Airbnb listings.
First we will try to look at different number of bedrooms in the listings. After visualizing the data, we can see that the listings for one bedroom is very high and it can be competitive . As the number of bedrooms increase the listings go down. If she chooses homes with optimal number of bedrooms there might not be high competition but also enough demand Choosing 2 or 3 bedrooms would decrease the competition and also ensure a relatively higher demand than the extreme side of more than 5 bedrooms
Second, from the visualizations based on listing prices in different cities. We can see that the price of listings is higher in few cities, this can be for a variety of reasons. we have to dig into more data to find all correlations, That will give us insight into the real-estate market of that city.
Next if we look at revenue across different seasons, its easier to spot that during holidays and vacations (i.e Christmas and Summer) the revenue goes higher which indicates higher demand during these seasons. It would be better to rent out during this time to make high earnings.
This data might help your friend a little bit on different factors to be considered before starting an Airbnb business and ask further questions from this data interpretation and visualisation.