Inspiration
Over the last decade or so, an economic expansion in the United States, and a variety of economic and market trends has accelerated the growth of the restaurant industry in the US. From 2012 to 2016, we see that fast-casual chains have grown at an impressive average growth rate of around 11%, which is a very good statistic given that the overall GDP growth rate is registered at around 2.3%. However, the scenario has rapidly changed in the last two years, with market growth stalling for most of the top 1000 restaurants, in almost all segments including casual dining. Performing well in this landscape would require a focus on a combination of building capabilities addressed towards consumer satisfaction and feedback. Creating an optimal menu mix and investing in continuous menu innovation is vital to stay on trend with evolving consumer preferences. The dataset that we have been provided provides us an opportunity to see the menu trends across different restaurants across different US cities.
What it does
More specifically, we have data for the menu items for Tacos and Burritos across the US. We want to generate business insights for a new firm that wants to open a restaurant joint serving tacos and burritos. We have added certain valid dimensions to our datasets, such as leasing rates and population densities, by mining data from online publicly available resources. Thereby we intend to understand, via our analysis, as to what are the factors affecting the business for such dining outlets.
How I built it
We have done our data cleaning, preprocessing in excel and using python pandas. Further, we have performed visualizations using Tableau.
Challenges I ran into
Initially, we had to deal with a lot of missing values and outliers. Our strategy was to first fill missing values, clean data and then find out deliverables to provide for new business. Throughout this course, we faced roadblocks where we could not identify certain deliverables and faced some technical hindrance but this was overcome using online help.
Log in or sign up for Devpost to join the conversation.