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10 views

synopsis of predicting house prices using decison tree

jfh;S.

Uploaded by

Ready For
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Predicting House Price Using Decision Tree

1) Background/ Problem Statement

The real estate market


is one of the most
competitive in terms of
prices and it tends to
vary significantly based
on a lot of factors,
hence it becomes one
of the prime fields to
apply the concepts of
machine learning.
Therefore in this
project, we present
various
algorithms while
predicting house prices
with
good accuracy.
The real estate market
is one of the most
competitive in terms of
prices and it tends to
vary significantly based
on a lot of factors,
hence it becomes one
of the prime fields to
apply the concepts of
machine learning.
Therefore in this
project, we present
various
algorithms while
predicting house prices
with
good accuracy.
The real estate market
is one of the most
competitive in terms of
prices and it tends to
vary significantly based
on a lot of factors,
hence it becomes one
of the prime fields to
apply the concepts of
machine learning.
Therefore in this
project, we present
various
algorithms while
predicting house prices
with
good accuracy.
The real estate market
is one of the most
competitive in terms of
prices and it tends to
vary significantly based
on a lot of factors,
hence it becomes one
of the prime fields to
apply the concepts of
machine learning.
Therefore in this
project, we present
various
algorithms while
predicting house prices
with
good accuracy.
Today, machine
learning
algorithms can help us to
enhance cyber security,
ensure public safety,
and improve medical
outcomes. In this
project we used a
machine
learning concept, For
example, if we’re going
to
sell a house, we need
to know what price tag
to
put on it. Here the
machine learning
algorithm can
give us an accurate
estimation or prediction.
Predicting housing
prices has always been
a
challenge for many
machine learning
engineers.
Data mining is the process of investigating hidden patterns of
information from various perspectives for categorization into useful
data, which is collected and assembled in specific areas such as data
warehouses, efficient analysis, data mining algorithms, assisting
decision making, and other data requirements, ultimately cost-cutting
and revenue generation.
The decision tree is the most powerful and widely used classification
and prediction tool. A Decision tree is a tree structure that looks like a
flowchart, with each internal node representing a test on an attribute,
each branch representing a test outcome, and each leaf node (terminal
node) holding a class label.
Data Mining can provide a precise estimation or prediction in this
situation. Decision trees can be used to handle non-linear data sets
effectively. The decision tree tool has real-world uses in the fields of
business, law, engineering, etc.
This system forecast the market value of a real estate property.
It assists in determining a starting price for a property based on
geographical variables. Future costs will be predicted by breaking down
past market patterns and value ranges, as well as upcoming
advancements.

2) Working of the Project

The Housing Prices Prediction System predicts house prices using


various Data Mining techniques and selects the models with the highest
accuracy score.

In this system, to log in to the system the admin can log in with a
username and password. The admin can manage the training data and
has the authority to add, update, delete and view data. The admin can
view the list of registered users and their information.

For users to access information, they have to register their account and
log in using a username and password. The user can manage their
profile and make changes accordingly.
To predict the house price, the user can search for a specific city or state
and select other parameters. For reports, the user can select a city or
state to view reports on house prices over the last five years as well as
predictions for the coming year.

3) Advantages

 Decision trees have the benefit of having outputs that are simple
to read and interpret without the need for statistical expertise.
 The data can also yield significant insights into the likelihoods,
costs, and alternatives to various marketing department-
developed strategies.
 It enables automated discovery of hidden patterns as well as
trend and behaviour prediction.
4) System Description
The system comprises 2 major modules with their sub-modules as
follows:

 Admin:
 Login
 Manage Training data-
 Add/update/delete/view
 view users

 User:
 Register
 Login
 Profile
 CP
 Prediction
- Search for a particular City/State and select other
parameters to predict price.
 Reports
- Choose City/State & and view reports of house prices from
the past 5 years and predictions of next year

5) Project Life Cycle

The waterfall model is a classical model used in the system


development life cycle to create a system with a linear and sequential
approach. It is termed a waterfall because the model develops
systematically from one phase to another in a downward fashion. The
waterfall approach does not define the process to go back to the
previous phase to handle changes in requirements. The waterfall
approach is the earliest approach that was used for software
development
6) System Requirements

I. Hardware Requirement

i. Laptop or PC
 Windows 7 or higher
 I3 processor system or higher
 4 GB RAM or higher
 100 GB ROM or higher

II. Software Requirement


ii. Laptop or PC
 Visual Studio 2019
 SQL Server Management Studio’s latest

7) Limitation/Disadvantages
- One of the limitations of decision trees is that they are
relatively unstable in comparison to other decision
predictors.
- Furthermore, decision trees are less effective at making
predictions when the main goal is to predict the outcome of
a continuous variable.
- The data mining techniques are not precise, so they may
lead to severe consequences in certain conditions.

8) Application – This system predicts a real estate property's market


value. It will be possible to forecast future costs by analysing
historical market trends, price ranges, and technological
developments.

9) Reference
- https://www.researchgate.net/publication/
238398459_Determinants_of_House_Price_A_Decision_Tree_Approa
ch
- https://www.researchgate.net/publication/
350430324_House_Price_Prediction_Using_Machine_Learning_Algor
ithm
- https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3565512

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