Data Science
Implement dynamic pricing strategies for fitness classes based on demand, time, and location
Study attendance patterns for fitness classes, and execute a dynamic pricing strategy that maximizes revenue and class attendance
Certified by
Role
Data Scientist
Industry
Fitness
No. of Subscribers
49
Level
Intermediate
Time Commitment
60 Hours
Duration
45 days
Tools you’ll learn
Here’s What You Work On
About the Company
At cult.fit, they make group workouts fun, daily food healthy & tasty, mental fitness easy with yoga & meditation, Medical & lifestyle care hassle-free.#BeBetterEveryDay
Being a young and vibrant company trying to change the perspective on how people perceive health and fitness, Cult.fit makes for a colourful bandwagon. Cult.fit challenges the routine and looks to create meaningful solutions to make healthy a seamless experience for everyone.
Explore
the following work techniques
Price Elasticity Model
Demand Forecasting
Dynamic Pricing Algorithms
Bridging the gap
Cult.fit aims to gain & maintain a competitive advantage by staying ahead of market trends and customer preferences in the fitness industry.
Leveraging a data driven approach gives them valuable insights into customer behavior, demand patterns, and the impact of pricing changes.
In this project, you will help analyze attendance data of various fitness classes and develop a dynamic pricing model that will help Cult fit maximise attendance and increase their revenue per class.
Apply
the following skills
Algorithm Development & Implementation
Data Analysis & Modelling
Exploratory Data Analysis (EDA)
Expected output
You will be required to submit the Demand Forecasting Model, the Dynamic Pricing Algorithm and Rules Documentation along with a presentation that outlines business recommendations based on your analysis.
Create
the following deliverables
Demand Forecasting Models
Dynamic Pricing Algorithm & Rules Document
Presentation with Business Recommendations
What you’ll need before starting
Python Libraries
Regression Analysis
Price Elasticity Concepts
Time Series Analysis, forecasting and model validation
Regression Analysis
Price Elasticity Concepts
Time Series Analysis, forecasting and model validation
