search

yashasvini121 / predictive-calc

An interactive web application developed with Streamlit, designed for making predictions using various machine learning models. The app dynamically generates forms and pages from JSON configuration files.
https://predictive-calc.streamlit.app/
9 stars 17 forks source link

Customer Income Prediction Model #13

Open deca109 opened 2 days ago

deca109 commented 2 days ago

Problem Description:

People before choosing a stream of education, making investment strategies, planning long-term savings , etc would like to know whether they would earn more or less than the average income of 50,000$ per year based on certain demographics. This model will help in classifying if the salary is high or low based on those demographics and will help the user to gather information on how the variability in the demographics can affect the salary.

Model Description:

I would use classification algorithms such as Logical Regression, Decision Trees and Random Forest as they are best for datasets that have binary prediction values. Also due to the imbalance of certain features, ensemble techniques such as bagging or boosting will have to be use to eliminate biases.

Estimated Time for Completion:

The implementation will be done within 3 days.

Expected Outcome:

Given certain socio-economic and demographic information the model will accurately classify the salary as low or high, helping users make financial decisions over a longer period of time. Predicting future income allows users to set realistic savings targets and contributions. For instance, if future income is expected to rise, they may choose to save more aggressively over time.

I would like to work on this issue under the GsSOC'24 Ext. Please assign me this issue and provide the labels.

yashasvini121 commented 2 days ago

Sure @deca109, go ahead! Let me (@yashasvini121), or @Pranshu-jais know if you have any queries. Do go through the docs beforehand.