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Laptop Price Prediction Using Machine Learning (Abstract)

This document presents a machine learning approach for predicting laptop prices based on specifications. It involves collecting data on laptop models, features, and historical prices. Various regression models are trained on preprocessed data to predict prices. The best-performing model is selected using cross-validation. Experimental results show the method accurately predicts prices and provides valuable insights into how features influence pricing.

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Vikas Bankar
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353 views

Laptop Price Prediction Using Machine Learning (Abstract)

This document presents a machine learning approach for predicting laptop prices based on specifications. It involves collecting data on laptop models, features, and historical prices. Various regression models are trained on preprocessed data to predict prices. The best-performing model is selected using cross-validation. Experimental results show the method accurately predicts prices and provides valuable insights into how features influence pricing.

Uploaded by

Vikas Bankar
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Title: Laptop Price Prediction Using Machine Learning

Abstract:

With the continuous advancement in technology and the increasing demand for laptops,
accurate price prediction plays a crucial role in helping consumers make informed purchasing
decisions. This study presents a machine learning-based approach for predicting laptop
prices, leveraging a comprehensive dataset that includes various laptop specifications and
historical pricing information.

The methodology involves data preprocessing, feature engineering, and the implementation
of multiple regression models, such as linear regression, random forests, and gradient
boosting. Feature importance analysis is performed to identify the most influential factors
affecting laptop prices. Additionally, hyperparameter tuning and cross-validation techniques
are applied to optimize model performance and prevent overfitting.

Experimental results demonstrate the effectiveness of the proposed approach in predicting


laptop prices with high accuracy. The model's ability to adapt to changing market trends and
provide valuable insights into price drivers makes it a valuable tool for both consumers and
retailers in the laptop market. This research contributes to enhancing transparency and
efficiency in laptop pricing, ultimately benefiting consumers and the industry as a whole.
Scope:

1.Data Collection: Gather data on various laptop models, including specifications (processor,
RAM, storage, GPU, display size, etc.), brand, customer reviews, and historical price data.

2.Feature Engineering: Preprocess and clean the data, which may involve handling missing
values, encoding categorical variables, and normalizing/standardizing numerical features.

3.Model Selection: Explore different machine learning algorithms suitable for regression
tasks. Common choices include linear regression, decision trees, random forests, support
vector regression, and gradient boosting algorithms like XGBoost or LightGBM.

4.Model Training: Train the selected model(s) using a portion of the dataset. Implement
cross-validation techniques to assess model performance.

Objectives:

1.Price Prediction: The primary objective is to build a machine learning model that accurately
predicts laptop prices based on their specifications. The model should be able to generalize
well to new, unseen data.

2.Market Insights: Analyze the importance of various laptop features in determining prices.
This can help both consumers and manufacturers understand which features have the most
significant impact on laptop pricing.

3.Price Trend Analysis: Use historical price data to analyze trends in laptop prices over time.
This can be valuable for consumers looking for the best time to purchase a laptop and for
manufacturers to adjust their pricing strategies.

4.Recommendation System: Implement a recommendation system that suggests laptops to


users based on their budget and desired specifications. This enhances the user experience and
helps them make informed purchase decisions.

5.User Interface: Develop a user-friendly interface for users to input laptop specifications and
receive price predictions. This can be a website, mobile app, or API.

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