brain griffin
Starting a cab business is not a simple task to do but, taxi booking software has made it a lot easier for people to hail a cab through their smartphone. Even though there is a lot of external factors like traffic and local infrastructure, it overpowers all to the top of the business chain. Uber is the best example to point out in the cab service.
A business owner needs to work on the data and aware of different types of metrics to concentrate. Uber itself admits that they work on data to provide a personalized experience to their users.
Many startups and entrepreneurs find it difficult to make decisions of their own. The data is the one that helps you to make an informed decision and learn a lot about your business. It helps you to visualize the problems & helps you to find a solution. here are the top metrics to look after in the taxi industry.
Top Metrics That You Should Make Use For Your Cab Service:
Surging:
Surging is nothing but an increase in price for a trip due to demand or external factors like rain that makes it hard for drivers. It tells you more about how much demand for trips in a particular location at a particular time.
Heatmap:
The heatmap shows the driver as well as the admin about the physical location where there is demand for the trips. It helps the driver to find out more trips possible and earn a lot.
Speed & Functionality:
To make it more sophisticated for both user & driver, the mobile app and web apps should be fast and functional. It should provide a personalized experience to the user and driver.
Wait Time:
Nobody wants to wait a lot to find a cab if so then, you will lose your game. So, it is important to keep track of wait time and make it easier to find trips as soon as possible.
Trip Acceptance Ratio:
The trip acceptance ratio is a ratio of the number of times that the driver accepted divided by the total number of trips. It helps the admin to improve the overall performance of the driver.
Driver Log:
A driver log is nothing but the period that the driver is active in the portal. It helps to manage the presence of the driver in the portal.
User Rating:
The user rating is the rating given by the user to the driver. It provides a clear view of the service provided by the driver. It also indicates the way to improve the overall performance of the portal.
Driver Rating:
The driver rates the user about their views on the user. These ratings and reviews help to remove the toxic people from the portal and prevent future negative incidents.
What You Can Learn?
The difference between successful & unsuccessful people is that they collect data and make it a piece of useful information to work. It is key for a taxi booking startup to work with the best working software to collect key data and it to the business goal. If you are interested then, please check out Top trending vehicle management system.
Additional Reading:
If you are interested in this article then here are some related links for you.
I hope this article will help you a lot.
Thanks.
I guess you need to have a fleet of taxicabs to be profitable. Having only 1 or 2 units will just lead to losses.