I started as a consultant in Exponea along with my new colleague Robert Čapla yesterday.
Day one: we received a CSV full of data (4-week history of strongly anonymised orders from Liftago app) and the Exponea tool.
“Show us what you can do, find some interesting facts and keynote it tomorrow noon.”
What dou you mean “show us what you can do”? I just started working here!
Liftago is a taxi aggregator with the purpose of connecting the public with the taxi drivers.
TL;DR: our results. Strong stuff.
Basic analyses had shown expected results: both cabs and customers drive/ride mainly on weekends and at night, mostly from the downtown. Wenceslas square is the top.
Sometimes less is more
We found the first interesting fact after evaluating the probability of realising a ride related to the number of rides offered to the customer.
We found out that more offers should reduce the order success rate. How come?
We took a closer look and connected similar orders (from the same spot, at similar times, with the same destination). We found sequences of offers rejected by the customer followed by one accepted offer. Why is that?
Each ride offer has a given countdown that marks its validity. What will a customer do if they do not receive a good offer? They reject all the other offers and try again. The result? Customer chooses the most relevant offer on the third or fourth attempt and finishes a ride.
Is there still a hole in the taxi market?
Yes, there is one. Although cab drivers usually drive on weekends and at night, there is a vast group of customers (over 30 %) that receive no offer on a Saturday. Their share drops to around 15 % on weekdays.
Psychological limit of 10 minutes
Up to 46 % of customers accept a ride offer with necessary waiting of 8-10 minutes, but if waiting should take longer (10-12 minutes), acceptance rate drops to 36 %.
Taxi hack FTW
As a bonus – we got a little taxi hack for you. If you need a ride within 1 kilometre of range, do not even bother yourself filling in the destination address. In 3 out of 4 cases, you will not be offered a ride at all (the chance being slim 27 %).
Read the rest of our analysis from Exponea here.