NYC Driver Behavior Analysis Project Series (Part 3)

May 9

3 min read

Welcome back to the NYC Driver Behavior Analysis Project series! If you need to catch up on any previous entries, you can find them here:

In this entry, we delve into the strategic planning process of executing data projects within business intelligence teams.

Recap

Let’s review the key takeaways from Part 2:

Strategic Meeting Initiated: Tom Hank kicked off the crucial meeting, setting the stage for in-depth analysis.

Urgent Response to Market Shifts: We examined TCIC’s swift reaction to COVID-19’s influence on NYC driver behavior, shaping premium strategies.

Analytical Depth Unveiled: The Underwriting team expressed interest in researching historical risk assessment and pandemic-driven shifts.

Interdisciplinary Collaboration Vital: We emphasized the critical significance of cross-functional collaboration. This plays a vital role in fostering innovative problem-solving approaches.

Path Forward Defined: We explored the outlined plan for further analysis. Our focus will be on delving deeper into methodologies and tools.

Strategic Planning Meeting: Project Framework Review

The Business Intelligence team reconvened to meticulously review the project framework. Serena Watson guided the discussion and ensured that each member contributed their unique perspective, ensuring a well-rounded discussion. The primary focus was on identifying potential data sources. The team also devised strategies to address associated limitations and costs.

During the meeting, Serena assigned Nancy (Data Engineer) and Jonathan (Data Analyst) the task of creating a detailed plan outlining the project. This document will serve as a comprehensive reference point for the team’s activities and objectives.

The slides provided below offer a formal summary of the Project Overview and Methodology that the Business Intelligence team will adhere to throughout the project duration. Access the Miro presentation through this link.

Project Overview

Objectives

Refine TCIC’s premium pricing models, accounting for pandemic-induced shifts in market dynamics.
Provide critical insights to inform strategic decisions.
Optimize risk assessment strategies.
Enhance the accuracy of TCIC’s existing underwriting process.

Project Impact

Enable data-driven decision-making in TCIC’s underwriting and customer service strategies.
Foster adaptability in TCIC’s products and services to align with evolving customer needs.
Enhance overall customer satisfaction and loyalty.
Strengthen TCIC’s market position through the application of advanced analytics.

Approach

Data Exploration

Driven by a keen interest in leveraging external data sources, particularly public repositories like NYC OpenData, thorough data exploration will be conducted to uncover valuable insights.

Tech Solutions

Leverage relational databases and cloud technologies to ensure efficient data management and processing.
Utilizing containers for deploying applications in the cloud environment facilitates scalability and flexibility.
Integration of powerful visualization tools like PowerBI and Miro aids in effectively communicating insights to stakeholders.

Narrative-driven Insights

Adopting a narrative-driven approach, the team will create personas to represent key findings and weave insights into relatable narratives. This strategy aims to engage stakeholders and facilitate informed decision-making.

Conclusion

This strategic planning session was crucial for the Business Intelligence team. They identified potential data sources and devised cost-effective strategies. This approach will help refine TCIC’s pricing models and risk assessment strategies, improving decision-making and market positioning. The team’s focus on advanced analytics and a customer-centric approach underscores their commitment to enhancing TCIC’s competitiveness and customer satisfaction.

Next Steps

Join us as we take the next steps in our project journey. We are diving into collaboration, making sure our data engineer and analyst are synced up and ready to roll. Then, we will get down to business requirements, shaping our data pipelines.

From tech selection to design, we are getting into the nitty-gritty. And of course, we are documenting every move, leaving no guesswork behind.

Thank you for spending a few minutes with me today — I’m grateful for your time and interest. For a deeper dive, visit my GitHub page to explore project resources.