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

Menterns at work

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

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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)

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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

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What you’ll need before starting

Python Libraries
Regression Analysis
Price Elasticity Concepts
Time Series Analysis, forecasting and model validation

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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

Explore our curated Resource Hub

Get Guidance in One-on-One Mentor Hours

Ask Questions in our Biweekly AMA

Resolve all doubts on Mentor Support Chatbox

Get Actionable Mentor Feedback on your work

Learn & Network at the exclusive Mentern Perks Club