1.5 Conclusion

The report identifies that the profitability of driving the yellow taxi in NYC is mostly affected by the pickup hour and location, which are the two major factors affecting taxi demand. In this aspect, the findings correspond with past literature, as they suggest that in order to maximise driving profitability and earning efficiency, the drivers should:

• Take on consecutive short trips around Manhattan, even during traffic hours, since the fare amount will compensate for congestion, and there is a much higher probability that they can continue picking up passengers as soon as a trip is finished due to the high demand of taxis within the area
• Avoid late night trips towards the airports despite the high fare amount, since there is no surge pricing benefits for taxi drivers and a low probability of a potential pick-up at the airport at night
• Consider off-peak hour trips from the surrounding suburbs, which is an efficient choice for accumulating large sums within a shorter duration despite not being very often

The report also investigates public transport as a competitor factor for transport demand. However, the findings show that there are sufficiently high demands for both modes of transportation to cater for passengers, and there might be other travel preference for residents from non-central areas. Future considerations should include for-hire vehicles, such as Uber and Lyft services, personal cars, and public transport other than subway (e.g., buses or Long Island railway) in their attempt to obtain a big picture understanding of the transportation habits of NYC residents. While the geospatial visualisations offer some interesting findings that lay the grounds for a driving strategy that is optimized for high profitability, no rigorous statistical testing or modelling was carried out to assert these suggestions. Future improvement should consider implementing these to serve as a stronger basis for conclusions and yield more effective strategies.