Emphasizing the analytical, evidence-based approach used to investigate the used car Data in the United States
Date
2024-08
Authors
Patibandla, Sai Yogesh
Major Professor
Townsend, Anthony
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Abstract
Within the automotive industry, the used automobile market is a major sector that plays a major role in both the economics and consumer acquisition of cars. With the use of an extensive dataset obtained from an online platform called Data World, this capstone project attempts to explore the field of used automobile sales in further detail. The dataset provides a rich tapestry of information for analysis since it includes a broad range of factors, such as automobile make, model, year, mileage, price, and location.
This project's main goal is to do a comprehensive analysis of the used automobile dataset in order to provide insights into a variety of market factors. Examining price, mileage, and popularity patterns for various automobile manufacturers and models is all part of the investigation. In addition, the research explores regional differences in used automobile sales to identify possible relationships between geographic characteristics and market dynamics.
This study uses predictive modeling to foresee changes in the used automobile industry, going beyond simple descriptive statistics. Based on past data, the initiative attempts to create models that can forecast future vehicle values using sophisticated machine-learning techniques. Furthermore, sentiment analysis methods are used to determine how consumers feel about various automobile brands and models, providing insight into the variables driving customer choices.
In the end, the goal of this capstone project is to advance knowledge of the used automobile market by providing useful information that may guide strategic choices. The initiative seeks to enable customers to traverse the complexity of the used automobile market more adeptly by using data- driven methodologies, therefore promoting transparency, efficiency, and well-informed decision- making.
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2024