Exploring Machine Learning Models to Predict the Diamond Price: A Data Mining Utility Using Weka

In contrast to gold and platinum, whose values may be fairly determined, determining a diamond's worth involves a far more complex set of considerations. The appropriate rate is based on many factors, not just one of the stones. Diamonds are graded based on their appearance, carat weight, cut quality, and how well they have presented dimensions like a table's surface, depth, and breadth. In order to accurately forecast diamond prices, this study seeks to develop the most effective approaches possible. Different machine learning classifiers are trained on the diamond dataset to forecast diamond prices based on the features. This article shows how to analyze diamond prices using WEKA's data mining software. Diamond data have been utilized for this study. These methods include M5P, Random Forest, Multilayer perceptron, Decision Stump, REP Trees, and M5Rules. For the purpose of estimating the cost of a diamond, different Machine Learning classifiers are compared and contrasted. Performance measures and analysis showed that Random Forest was the best-performing classifier. Experimental findings show, as shown by the coefficient of correlation that Random Forest is better than other classification methods.