Performing analysis on Kickstarter data to uncover useful trends
Analyze, sort, and organize Crowdfunding Data. Use the data to help Louise, a playwright, to plan her fundraising campaign.
Thank you, Louise, for your time and trust in our firm to provide data services. The challenge of fundraising for a production must be a lot of work. Our company has tools and information to help you navigate that course to success.
The purpose of our work was to analyze past successful projects and uncover trends and specific factors that contributed. We will provide useful visual information to you, Louise, to help you plan your own successful campaign.
The data we began with was rough and needed work. We cleaned up formats and dates and were able to extract some very useful information from the 4000+ records acquired.
Very early on, we noticed the many of the successful campaigns were Theatre/Plays and the goals and pledges were under $1000 and under, with an average goal of approx. $475 and often times pledges exceeded approx.$500. The volume of small donations added up.
The line chart displays the number of successful, failed, and canceled theatre productions, throughout the months.
We concluded the large majority of successful projects are launched in certain seasons.
- The best Theatre Play season appears to be May-July with a ramp up in April.
- The next most successful launch month is October where a smaller number of plays launched successfully.
The line chart displays how the percentage of successful, failed and canceled plays and their relationship between the goal amount ranges.
- The most successful goal range is the Less than $1000.
- The next most successful goal range is $35,000-$49,999 range but there are very few of those productions.
The challenges I faced were familiarization with the spreadsheet and navigating the subcategories. I had to remember to narrow down to the data we were studying mainly Theatre and Plays. I had mistakes in my formula and was still working with over 4000 records instead of approx. 1000 plays. Once corrected, the story came together and the chart looked more similar to the example in the assignment.
The spread of data was interesting but heavily concentrated on lower value goals and pledges both in the successful category.
- What are two conclusions you can draw about the Outcomes based on Launch Date? The months of May and June are the best to launch a theatre play. The month of October is another opportunity for potential successful launch.
- What can you conclude about the Outcomes based on Goals? Lower realistic value goals and pledges supported successful campaigns. Goals and Pledges in the range of $0 - $4999 makes up the approx. 75% of the goals on successful campaigns.
- What are some limitations of this dataset? The spread and the type of information.
- What are some other possible tables and/or graphs that we could create? It would be interesting to know more about other subcategories and their goal/pledge amounts. It would be helpful to know more about the few larger goal/pledge campaign and how those were accomplished. We would need to gather more information for this analysis.