Making long-term forecasts at Lyft
At Lyft, like many other companies, we need to make accurate short and long-term forecasts. Some of the metrics that we need to accurately predict are number of driver hours provided by drivers in different regions — i.e our supply side of the business — and also number of rides taken by riders in different regions, i.e. our demand. We have several internal tools that we use to make forecasts.
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Captain Obvious Finally Arrives: Ride-sharing Actually Causes Congestion
A recurring theme among ride-hailing executives from the likes of Lyft and Uber is that their platforms will help reduce congestion in the world’s most populous cities. However, anyone actually living in these places will tell you it doesn’t appear to be working. Cities like New York were already clogged with taxi cabs but, instead of seeing all of these drivers buy personal vehicles to enlist as independent contractors for ride-hailing firms, Uber and Lyft brought in new drivers, more vehicles, and fresh competition.
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