Revenue optimization in taxi services using linear programming and forecasting with Facebook Prophet in R
DOI:
https://doi.org/10.47633/v9y3yb65Keywords:
Facebook Prophet, linear programming, profit maximization, revenue optimization, taxi servicesAbstract
The study compares linear programming and Facebook Prophet to optimize revenue in urban taxi services using NYC TLC data from the first ten months of 2025. The relationship between distance, time, and earnings was modeled to maximize daily driver income and Prophet was used to forecast demand and identify trends and seasonality, with peak activity on Thursdays and Saturdays. Results indicate that medium-length trips provide the best balance between revenue and time, and that combining both approaches offers a more robust strategy by integrating forecasting and optimization, enhancing operational planning and service profitability.
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Copyright (c) 2026 Angie Gabriela Esquivel-López, Sebastian Quesada-Córdoba, Esteban Andrés Espinoza-Solano
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