Diamond Price Prediction Using Machine Learning Algorithms

Abstract

Abstract: Diamonds are one of the most powerful, precious and treasured naturally occurring materials that form from prehistoric carbon. Nevertheless, as opposed to gold and silver, diamond pricing is very complicated as there are many features to consider when determining the price. The aim of this paper remains to put forth a more optimal solution for the purpose of diamond price projection. This involves training a distinct machine learning model on the available diamond dataset to predict diamond prices established by considering several attributes using algorithms such as linear regression, decision trees, and Knearest neighbours. In addition, a correlative survey of different machine learning regression models is executed for the purpose of diamond price prediction.