Business Commons^™

Using Machine Learning To Predict Sales Conditional On Bid Acceptance, Barry E. King, Jason Davidson

Scholarship and Professional Work - Business

A North American provider of vehicle parking solutions seeks to predict if a bid will be successful and, for those that are successful, what will be the cumulative sales revenue. Both traditional statistical methods and machine learning algorithms were employed. The machine learning techniques performed better than the statistical methods. There is no statistically significant difference between random forest and extreme gradient boosting for either the binary classification task or the regression task.