Abstract—Accurate cost estimation at the early stage of a
construction project is a key factor in the success of most
projects. Many difficulties arise when estimating the cost during
the early design stage in customized furniture manufacturing. It
is important to estimate the product cost in the earlier
manufacturing phase. The cost estimation is related to the
prediction of the cost, which commonly includes calculation of
the materials, labor, sales, overhead, and other costs. Historical
data of the previously manufactured products can be used in
the cost estimation process of the new products. In this paper,
we propose an early cost estimation approach, which is based on
machine learning techniques. The experimental investigation
based on the real customized furniture manufacturing data is
performed, results are presented, and insights are given.
Index Terms—Cost estimation, customized furniture
manufacturing, analogous estimating, machine learning,
prediction.
All authors are with the Mykolas Romeris University, Ateities str. 20,
LT-08303 Vilnius, Lithuania (e-mail: olga.kurasova@gmail.com).
Cite: O. Kurasova, V. Marcinkevičius, V. Medvedev, and B. Mikulskienė, "Early Cost Estimation in Customized Furniture Manufacturing Using Machine Learning," International Journal of Machine Learning and Computing vol. 11, no. 1, pp. 28-33, 2021.
Copyright © 2021 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).