Dishy is a fictitious company created for the purpose of this analysis. Although it does not exist in the real world, let’s imagine that Dishy is a marketplace platform for restaurants, founded in 2015. The company has grown rapidly and now has a global presence, operating in over 20 countries and serving more than 100 cities around the world. Dishy’s mission is to facilitate meetings and negotiations between customers and restaurants, making it easier for customers to discover and experience new restaurants and for restaurants to reach new customers. Dishy’s vision is to become the world’s leading platform for restaurant discovery and online reservations. Although Dishy is a fictitious company, the following analysis is based on real data (available at this link) and provides valuable insights that could be applied to a real company with a similar business model.
The CEO was recently hired and needs to understand the business better in order to make the best strategic decisions and leverage Dishy even more, and for this, he needs an analysis to be done on the company's data and dashboards to be generated. He would like to see the following metrics:
- The number of restaurants: This metric provides an overview of the size of the Dishy platform. It indicates how popular and attractive the platform is to the restaurants.
- In how many countries the company operates: This metric indicates the geographical reach of the platform. It indicates a stronge global presence and the ability to attract customers from various backgrounds.
- How many cities it serves: This metric indicates the reach of the platform on a more granular level. It can help identify specific geographical areas for expansion or improvement.
- How many evaluations have been performed: This metric indicates the level of user engagement with the platform. A larger number of reviews may suggest that users are actively using the platform and finding value in it.
- The number of different types of cuisines on the platform: This metric indicates the diversity of restaurants on the platform. Greater diversity can make the platform more attractive to users as it offers more options and experiences.
- The geographical distribution of all restaurants: This metric can help identify geographical patterns in the restaurant base of the platform. It informs geographic marketing strategies and expansion efforts.
- Number of registered cities per country: This metric can help understand the geographical distribution of restaurants on the platform. This can inform expansion strategies to new cities or countries.
- Number of registered restaurants per country: This metric can indicate which countries have the largest presence on the platform. This can help identify potential markets for growth.
- Number of cuisines per country: This metric can indicate the diversity of cuisines available in each country. This can help understand culinary preferences in different regions.
- Number of evaluations per country: This metric can indicate the level of user engagement in different countries. Countries with a larger number of reviews may have more active users.
- Avg Number of reviews per country: This metric can help understand how often users in different countries leave reviews. This can indicate the level of user engagement.
- Avg score per country: This metric can indicate the perceived quality of restaurants in different countries. Countries with higher average scores may have higher quality restaurants.
- Countries & Price types distribution: This metric can help understand the price range of restaurants in different countries. This can inform pricing strategies and market segmentation.
- Number of registered restaurants per city: This metric can indicate which cities have the largest presence on the platform. This can help identify potential markets for growth.
- Number of registered cuisines per city: This metric can indicate the diversity of cuisines available in each city. This can help understand culinary preferences in different regions.
- Average restaurants ratings per city: This metric can indicate the perceived quality of restaurants in different cities. Cities with higher average scores may have higher quality restaurants.
- How many restaurants are delivering now: This metric can indicate the delivery availability of restaurants on the platform. This can be useful for users looking for delivery options.
- How many restaurants have table booking: This metric can indicate the table reservation availability of restaurants on the platform. This can be useful for users planning dinners or events.
- The number of restaurants that have online delivery: This metric can indicate the online delivery availability of restaurants on the platform. This can be useful for users who prefer the convenience of online delivery.
- The name of the most expensive dish for two restaurants: This metric can help identify the most expensive restaurants on the platform. This can be useful for users looking for high-quality or luxurious options.
- Average cost for two per rating: This metric can help understand the relationship between price and quality of restaurants. This can be useful for users trying to find the best value.
- Top 15 Restaurants (by ratings & votes): This metric can help identify the most popular and highly rated restaurants on the platform. This can be useful for users looking for the best options.
- Average cost for two (US$) by cuisines: This metric can help understand price differences between different types of cuisines. This can inform pricing strategies and help identify price arbitrage opportunities.
- Cuisines diversity distribution: This metric can help understand the diversity of cuisines available on the platform. This can be useful for users looking to try new types of cuisine.
The goal of this project is to create a set of charts and/or tables that display these metrics in the best possible way for the CEO.
- All currencies have been converted to the US dollar to make comparisons easier.
- Marketplace was the business model assumed.
- The 3 main business views were: Countries view, Cities view and Restaurants view.
The strategy dashboard was developed using the metrics that reflect the main business model views of the company.
-
The Major Market is in India, with Nearly 45% of the Number of Restaurants:
- Nearly half of Dishy's establishments are in India, its major market. India is the company's most established market, making it a key operational hub.
- Dishy may exploit this knowledge in numerous ways. Start by offering premium advertising packages and targeted service prices to boost revenue in this critical sector. Second, using India's diverse restaurant selections, regional marketing campaigns and loyalty programs can boost user engagement and loyalty.
- Promoting Indian foods in marketing efforts and relationships with local influencers can increase platform engagement by attracting a diverse user base. Regional advertising and promotions can boost brand awareness and usership.
- Finally, India's large restaurant presence offers Dishy a great opportunity to enhance income, user engagement, and brand awareness. Based on localized strategies and culinary diversity, Dishy may strengthen its market leadership and reproduce it in other rising markets.
-
Restaurants that receive many reviews will often have a higher rating. It is worth investing in requesting that customers rate the service.
- Analysis suggests that restaurants with more reviews have higher ratings. This trend implies that aggressively promoting client input might boost a restaurant's platform reputation.
- Dishy can use this insight to boost consumer reviews. Follow-up emails, in-app notifications, and tiny reviews incentives are examples. Restaurants gain visibility and consumers by encouraging more reviews.
- In conclusion, encouraging customers to post evaluations can enhance restaurant ratings and Dishy's engagement and quality image.
-
The market in the American continent has potential but is still very little explored.
- Dishy has a large growth possibility in the unexplored American market, according to the analysis. Despite its potential, fewer restaurants are registered than in other regions.
- Dishy can use this to expand in North and South America. The platform attracts new restaurants and users through targeted marketing strategies, collaborations with local restaurant chains, and specialized incentives.
- Dishy can reach a wide, diverse consumer base and develop a strong presence in a fast-growing region by investing in the US market. This strategic approach can boost platform growth, brand awareness, and market share.
- After exploring and investing in the Americas, Dishy can become a leader in an underexploited market.
-
Understanding Preferred Cuisines by Users Can Enhance Dishy's Growth Strategies.
- Dishy must understand consumer gastronomic preferences in each region and location to improve its growth plans. Tailoring the platform's offers to local preferences helps boost user engagement and retention.
- Dishy may use this data to identify regional favourite cuisines and change its marketing and restaurant suggestions. Dishy may grow its audience and market share by emphasizing local cuisines.
- Identifying culinary trends can also inform expansion and cooperation initiatives. Dishy can remain ahead of the curve and provide interesting dining experiences by monitoring consumer preferences.
- In conclusion, using user preferences for cuisines in its growth tactics helps Dishy cater to local tastes, increase user engagement, and stay competitive in a changing market.
The final product of this project is a comprehensive app designed to provide valuable insights and strategic guidance for Dishy, a prominent player in the restaurant industry. Unlike traditional platforms, this app goes beyond merely offering an overview of the market; it delves deep into the intricate factors that influence restaurant performance and customer preferences. By leveraging advanced data analytics and cutting-edge technology, Dishy can now make well-informed decisions, optimize its operations, and ultimately enhance its profitability.
Furthermore, this app exemplifies the transformative potential of data analysis and technology within the restaurant sector. It showcases how Dishy is embracing innovation to redefine the way people discover, experience, and engage with restaurants worldwide. By harnessing the power of data-driven insights, Dishy is poised to lead the charge in revolutionizing the restaurant industry, setting new standards for efficiency, customer satisfaction, and business growth.
In essence, this project serves as a testament to the invaluable role of data analytics in driving business success and fostering innovation. It underscores Dishy's commitment to excellence and its dedication to staying ahead of the curve in a rapidly evolving market landscape. To explore the full capabilities of the app, please visit the Streamlit dashboard link provided.
The aim of this project was to create an app that presents insights effectively and intuitively for Dishy's CEO. Through the strategic use of technology and data analysis, it was possible to identify lucrative business opportunities in the restaurant market.
However, Dishy's true potential lies in its ability to adapt and grow. Our analysis has shown substantial expansion opportunities, particularly in the American continent, which remains relatively untapped. Furthermore, understanding users' culinary preferences can be a powerful strategy for driving growth. For instance, if we knew that Italian cuisine is particularly popular in a specific city, Dishy could focus on attracting more Italian restaurants to that area.
Additionally, Dishy has demonstrated an impressive commitment to quality. With an average rating of 4.127 across all reviews, it's evident that users value the experience Dishy provides. This is further exemplified when we look at individual restaurants - for example, our top-rated restaurant, Byg Brewski Brewing Company, boasts an impressive rating of 4.90 and 17394 reviews.
Furthermore, Dishy has proven to be a profitable platform for both restaurants and users. With an average cost of US$29.59 per meal for two, restaurants on the Dishy platform are generating significant revenue.
In summary, Dishy is more than just a restaurant platform - it's a revolution in how we interact with food. With its combination of global reach, commitment to quality, and growth potential, we believe Dishy is perfectly positioned to lead this revolution. We look forward to seeing what the future holds for Dishy.
- Detail some analysis regarding cuisines types.
- Deepen the analyses regarding the evaluations provided.
- Create new filters.
- Add new business views.
- Develop Machine Learning Models that can help the company improve its performance.