Case Study

Diamonds are priced according to the 4 C’s. Diamond carat weight and diamond color tend to have the most impact on the price. However, many factors contribute to the final price of any particular stone. Here are 7 factors of diamond prices, starting with the 4 C’s: carat weight, diamond color, diamond clarity, diamond cut, diamond shape, diamond grading, and market factors.

Personal Project

This project involved a complex machine learning task, with the goal of accurately predicting diamond prices. In order to achieve this objective, it was necessary to carefully understand the data from both an analytical and layperson’s perspective. As a first step, thorough data exploration was conducted, with a focus on meaningful data pre-processing. This included various aspects such as data visualization, feature engineering, dimensionality reduction using Principal Component Analysis, and outliers detection. The subsequent data modelling phase involved implementing linear regression and decision tree models, which were further optimized through hyperparameter tuning. Overall, this project provides a comprehensive analysis of the many factors involved in accurately predicting diamond prices using machine learning techniques.

For further details, I invite you to visit my GitHub page and Kaggle Competition where you can find a comprehensive documentation of the project

Sources

PriceScope