Used Car Price Prediction
using Machine Learning Models & Techniques.
In this data science project, I have conducted a comprehensive Exploratory Data Analysis (EDA) on a dataset containing information about used cars. The dataset encompasses a variety of features such as the car's make, model, year of manufacture, mileage, fuel type, and various other factors that influence the pricing of used cars. The primary objective of this project is to gain valuable insights into the dataset through EDA and build a robust machine learning model to predict the price of used cars.
Live Demo Of results prediction deployed on streamlit.
Description of the data present in out dataset
Name | Year | Selling Price | Km_driven | Fuel | Seller_type | Transmission | Owner |
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Car Name(Brand+Model+Variant) | Year of Model | Selling Price of Car | Usage of Car | Fuel Type | Seller Type | Transmission Type of Car | Owner type |
Project 1: Car Price Prediction using ML models Report File
Machine Learning Workflow:
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Data Collection:
Collecting a diverse dataset is a foundational step where the focus is on gathering comprehensive information relevant to the problem at hand. This process involves identifying and obtaining data sources that provide the necessary context for training and testing machine learning models. -
Exploratory Data Analysis (EDA):
Exploring and analyzing the dataset is a critical phase that involves uncovering insights, understanding data distributions, and identifying potential patterns. Through visualization and statistical techniques, EDA aims to reveal the structure and characteristics of the data, aiding in feature selection and model development. -
Data Preprocessing:
Data preprocessing focuses on preparing the dataset for model training by addressing issues such as missing values, outliers, and inconsistencies. Tasks include cleaning the data, handling null values, scaling features, and encoding categorical variables to ensure a consistent and reliable input for machine learning algorithms. -
Feature Engineering:
Feature engineering involves creating new features or modifying existing ones to enhance the model's ability to capture meaningful patterns. This step requires domain knowledge and creativity, as engineers aim to extract relevant information and improve the model's predictive performance by providing it with more informative features. -
Model Selection: Model selection is the process of choosing an appropriate machine learning algorithm based on the characteristics of the data and the nature of the problem. Different algorithms have strengths and weaknesses, and the selection process involves identifying the most suitable model architecture for achieving the desired outcomes.
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Model Training:
Model training involves feeding the chosen algorithm with the prepared dataset to enable it to learn patterns and relationships. During this phase, the model adjusts its internal parameters iteratively to minimize the difference between its predictions and the actual outcomes in the training data. -
Model Evaluation:
Model evaluation is the critical assessment of the trained model's performance using validation data. Metrics such as accuracy, precision, recall, F1 score, or area under the ROC curve are employed to gauge the model's effectiveness and generalization capabilities to new, unseen data. -
Hyperparameter Tuning:
Hyperparameter tuning involves optimizing the model's hyperparameters to achieve better performance. Techniques such as grid search or random search are employed to find the best combination of hyperparameter values, fine-tuning the model for optimal results. -
Model Deployment:
Model deployment is the process of implementing the final model into a production environment, making it accessible for real-world predictions. This step involves integrating the model into the target system, ensuring scalability, reliability, and seamless functionality in a production setting. -
Model Monitoring:
Establishing systems for model monitoring involves continuously observing the deployed model's performance over time. This process includes detecting any drift or degradation in the model's predictive capabilities, allowing for timely adjustments and ensuring consistent accuracy. -
Model Maintenance:
Model maintenance is an ongoing process of updating and refining the model to ensure continued relevance and accuracy. It involves incorporating new data, addressing shifts in the underlying patterns, and adapting the model to evolving circumstances to maintain its effectiveness over the long term.