Kickstarter Crowdfunding Services
Over $2 billion was raised using the successful crowdsourcing service, Kickstarter, but not every campaign found success. To date, 300,000 campaigns have been launched on Kickstarter, with only a third having made it through the funding process with a positive outcome. Getting funded on Kickstarter required meeting or exceeding a project's initial goals, therefore many organizations spent months reviewing past projects in an attempt to discovering some tips for success. A funding analysis was performed using 4,000 past Crowdfunding Campaigns to determine what characterizes a successful campaign. The data set was organized and analyzed in Microsoft Excel. To describe the variability of the data set, three measures of central tendency (mean, median, and mode), summary statistics metrics, and Pivot Charts were used to uncover any insightful hidden trends.
The following insights were uncovered:
Successful campaigns are seasonal. The best time of the year is late April - early May, according to the Pivot Chart Line Graph of months versus number of campaigns.
A Stacked Column Pivot Chart based on category, showed theater campaigns had the most success. Music, Film & Video were the next successful campaigns, respectively.
A Stacked Column Pivot Chart based on sub-category, showed plays have the most success within the theater category.
Finally, some limitations of data set that could not be determined:
• Why projects are more successful during late April – Early May and seasonally-driven?
• What makes a project successful other than funding?
• Why certain countries favor specific campaigns?
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