An Intelligent Business Model for Product Price Prediction Using Machine Learning Approach

The price of a product plays vital role in its market share. Customers usually buy when it fits their needs and budget. Therefore, is an essential area the business to make decisions about prices for each product. major portion profit directly connected with percentage sale, which relies on certain factors customers including customers’ behavior competitors. It has been observed past that machine learning algorithms have made decision-making process more effective profitable businesses. fusion intelligence systems produced potentially better results workers. This study proposes model facilitate pricing mechanism products. Three namely (1) Multiclass Random Forest, (2) Logistic Regression (3) one-vs-all applied prediction. intelligent helps workers set discounts based customer’s buying (i.e., average amount spent items). also predicts demand market, may help making gain productivity. performance evaluated using hold-out cross validation. out performed other two terms log-loss accuracy prediction both as well outcomes proposed businesses exploring data higher share market.