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Pricethinker is a very useful machine learning application that can predict prices based on numeric features data. For example if one is out shopping, and looking at many similar products, it is hard to figure out the best value product i.e. which gives most features to the price. This tool helps you do complicated price analysis.
A simple example is house price prediction based on 1 feature, say square feet. Which one of the following is the best value? What should be the price of 2000 sq feet be? Pricethinker is exactly the tool to help you. Imagine how complicated it becomes if you also put bathrooms, garage etc into the equation. Its much easier for PriceThinker to do the number crunching for you.
Sq Ft – Price
2200 – 340000
2100 – 310000
1900 – 260000
2500 – 370000
Pricethinker will tell you that the home with 1900 sq ft is the best value. And a home with 2000 sq ft should cost 288459. The power of machine learning is at your service with simplicity and beautifully!