C001

Car Price Forecasting: An In-Depth Analysis Using Machine Learning Algorithm

Dr. Aaron Aw Teik Hong, Syahrin Dzikri Bin Samidi

AFFILIATION
Faculty of Management, Multimedia University

Description of Invention

This research aims to identify key factors affecting car prices, using data from Mishree Bagdai (2023), which includes various car models and manufacturers. A Machine Learning algorithm will be employed for regression analysis to predict car prices based on important features. The study will follow the CRISP-DM methodology, a structured process for conducting data science research, including planning, observing, and analyzing data. The base price of a car, along with additional features, determines the Manufacturer Suggested Retail Price (MSRP), and this research focuses on discovering the features that have the greatest impact on car price.