Problem Statement

Research and Development wants help to determine new product ideas and pricing using existing product line as a benchmark.

Solution Summary

We have identified several product gaps in the existing product line including:

  1. Aluminum Over Mountain

  2. Aluminum Triathlon

The Data Science Team has developed a pricing model that uses predictive analytics to estimate the price of the new bicycle models based on the existing fleet. This ensures that new models are priced comparatively to other similar bicycles.

New product prediction for 2 new models:

  1. Trigger, Over Mountain with Aluminum Frame: $2,985

  2. Slice, Triathlon with Aluminum Frame: $2,438

Gap Analysis

Bike List

Our current product portfolio consists of 97 bike models that were analyzed.

Gaps

This visualization segments the full bicycle product line by category and exposes opportunities for new products.

  1. New Aluminum line of bikes in the Over Mountain Category
  2. New Aluminum line of bikes in the Triathlon Category

Price Prediction

New product prediction for 2 new models:

  1. Trigger, Over Mountain with Aluminum Frame: $2,985

  2. Slice, Triathlon with Aluminum Frame: $2,438