Macbook Pro

The Earning Dashboard with High-Predictive Income

Tailoring Nightly Prices to Meet Host-Specific Needs

Increased Host earnings the right way

Another project undertaken during the Ironhack Bootcamp involved the creation of a dashboard. The concept arose from the Data Analyst cohort's effort to develop machine learning models for predicting host income throughout the year.

2 Weeks

Dashboard

UX/UI Design

Client

Group Project

Date

February 2024

Role

UX/UI Design

Keywords

Accessibility , Dashboard App, User-friendly

At a glance

Problem

1 - Hosts struggled with financial planning due to unpredictable income

Airbnb hosts face uncertainty in budgeting due to varying needs, such as some being open year-round while others operate seasonally. Despite differences in time and location, optimizing their income through accurate predictions remains crucial for effective financial planning.

2 - Pricing optimization challenge

Many Airbnb hosts find it difficult to determine the best nightly rates for their listings. They lack insights into market trends, competitor pricing, and demand fluctuations, making it challenging to set competitive rates that maximize revenue while attracting guests.

Goal

To create a dashboard for Airbnb hosts to adjust their yearly plan on hosting and see the prediction depending on their yearly plan.

Outcome

High Fidelity Prototype with user testing

Prioritization: Business Value

What we did

We began our secondary research as tools on market on price prediction as well interviewing our colleagues who are Airbnb hosts and the data analyst team, whom we got the project inspiration from.

Main key points

Superhost status is beneficial for hosts as it allows their hosting reach faster to potential guest, but maintaining is also hard
Local regulation keeps changing and impact host owners
Revenue covers various topics from tax to different kind of seasonal parameters
Pricing strategies for diffferent use cases for better earning

Concept Ideation and Prioritization

During the ideation phase, we gathered ideas of features that could helps users to elevate the problems. Employing techniques like crazy 8s enabled us to generate diverse ideas, while prioritizing features based on business value helped us focus efficiently to which feature brings more value with a limited of effort and time.

As you can see from left image, we took 4 features that were important and key of this problem which are:

Yearly prediction
Current monthly income of current year
Pricing strategy
Gross & Nett earning

Although Pricing strategy gives big effort to us due to visualization and how to make it simpler for user, we insisted on taking this feature as we assumed, this will help user on profiting the most of their host earning.

Challenge Faced

Throughout our journey, we faced various challenges in designing solutions for Airbnb hosts. We had to consider many different aspects of Airbnb hosting, like taxes and trends nearby, which made our project more complex.

During the brainstorming phase, we struggled to simplify pricing strategies to make them easy for users to understand. Despite these challenges, we were determined to include important features like Yearly Prediction, Current Monthly Income, and Pricing Strategy in our solution.
As a team of two, reaching an agreement on a mid-fi solution wasn't easy. Our journey reflects the dynamic nature of our project and the hurdles we overcame along the way.

Result and Retro

Working closely together, continuous communication and feedback loops played a key role in fostering creativity and ensuring everyone was aligned on project goals. This collaborative approach allowed us to capitalize on each team member's strengths and ensure that tasks were delegated strategically. Additionally, we emphasized the importance of thoroughly defining and clarifying concepts before assigning tasks, which helped maintain clarity and efficiency throughout our workflow.

We do see further development in this topic which can be more explored and researched:

mortgage planing

Airbnb earnings can help cover mortgage costs, easing financial planning for hosts.

include a help tooltip
For a quite complex dashboard, it is useful to always have a way of user knowing how to user the
dashboard
include detailed expenses
helps hosts assess profitability and plan finances effectively for their Airbnb hosting
Insights and opportunities chart
Bar charts on insights about trends, bookings, competition

For more in depth discussion please visit my Medium Page

Anatomy of Dashboard Host Earning with Pricing Strategy