Vehicle Rental Duration Distribution Physiognomies And Data Acquisition

At present, the bike sharing and rental systems are completely implemented in metros and large cities but it is slowly being implemented and gaining popularity in the medium sized cities as well. Whether it is US, England, New Zealand or China, the scenario is looking better in every place.

Based on the research and the basic information gathered about all the major cities all over the world where bike rental is a booming business, the data on public bike rentals represents that the prospects of this industry is better and will grow even bigger. Whether you consider the data of the five or the weekends, there is an upsurge noticed in all aspects of this specific industry.

Several researchers have obtained the relevant data by contacting the proper departments that keep records of the bike sharing systems in these cities. They considered the targeted weekdays to be all those clear days that are suitable for cycling to process the collected data.

Processing the data

As of now, the data is used to arrive at a result regarding the two most significant aspects of bike rentals:

  • The usage of the bike and
  • The return of the bikes.

It is considered that when a lessee concludes a rental, the records of the bike rental system reflect several important aspects such as:

  • The number of the bikes rented and used by the lessee
  • The station and spot from which the bike was rented
  • The station and parking place to which the bike was returned and
  • The times at which the bike was rented and returned.

Therefore, the basic rental information for all the bikes that are rented by any bike rental New York can be easily obtained by exploring the background database of that specific bike rental company.

When the bike management companies are contacted, it was found that in most of the cities whether it is six weekdays or five weekdays, the info retrieved for that period showed data that are amazing and points towards the gaining popularity of this specific industry. Taking all the bike rental companies in the city the data showed that the daily rentals ranged from anywhere between 90,000 and 210,000 for a period of couple of months only.

At first it was believed to be an inflated figure but under careful consideration and scrutiny it was found that each datum considered contained data that are hard to ignore and say that the data is fabricated. These elements even included the card number of the hirer apart from the basics such as the place from where it was hired and returned to along with the proper mentioning of the times of hire and return. This even provided the duration of each bike rental and the amount charged further substantiating each data.

Characteristics Of Bike Rentals

In order to determine the characteristics of bike rental, the researchers first made sure that the pattern of bike rentals in all the cities is almost similar. It is only then a detailed introduction is given for the method of processing the collected data.

Typically, two main types of data are eliminated from the sets of data. These are:

  • The data that corresponds to zero rental duration and
  • The data that corresponds to the rental duration of more than an hour.

The rental duration of zero means that the person hiring or booking the bike did not travel in it and therefore inclusion of such data will only make the findings unauthentic. On the other hand, the data that corresponds to a bike rental for over one hour duration was eliminated just to ensure that there is oneness in the data as well as the convergence.

Other things that were considered during the determination of the characteristic of bike rental include:

  • Bikes that are manually operated
  • Bikes that need continuous cycling as cycling these bikes in excess of an hour seems to be difficult and rare and
  • Bikes that are offered to public free of charge!

All the data obtained from all the other cities were processed in the same way to arrive at a particular decision.

Distribution characteristics of rental duration

In all of the cases the data collected to determine the characteristics of rental duration of each bike was collected in units of minute to ensure oneness and for the ease of study and analysis.

For example, when a particular data is labeled as “five minutes” it is referred to as the time duration of bike rental that lasted from five minutes and zero seconds to five minutes and fifty nine seconds.

In this way the frequency data is collected for a six weekday’s period and the averages are tabulated. This eventually gave the frequency distributions of several different bike rental durations.

The facts and findings

The frequency distributions of bike rental duration showed an obvious peak in the curves of the bike rental duration. This curve actually looks like a cliff to that is gentler to the left as compared to the right side of the peak. This shows the difference of bike rental duration on each day over the week which inevitably and understandably was small. Why? This is because the demand for bike rental remains more or less the same over the weekend. This in fact signifies the popularity of bike rental in these cities.

The graph showed the characteristics of bike rental duration for all the cities concerned which seemed to be extremely similar across all cities. The average was found to be about 15 minutes and the frequency distribution peaks occurring was found to be 6 minutes. It also showed that about a quarter of all bike rentals lasted for about 6 minutes, and about 75% of all took less than 21 minutes.

All these facts and data indicate that most of the bikes are rented for short distance travel. As far as the long distance travels, people often prefer other modes of travel.

What is the inference of such findings? It is that bike rental business will flourish more if you focus on short distance rentals rather than the long ones.

This post was written by: Kate Westall

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About Kate Westall

I am Kate Westall, a freelance writer and a professional blogger, who enjoys enlightening others about unknown and little-known facts. I love to write on all general and professional topics on Automotive.

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