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Using Machine Learning for Product Portfolio Management: A Methodical Approach to Predict Values of Product Attributes for Multi-Variant Product Portfolios
Published online by Cambridge University Press: 26 May 2022
Abstract
To satisfy customer needs in the best way, companies offer them an almost infinite number of product variants. Although, an identical product was not built before, the values of its attributes must be determined during the product configuration process. This paper introduces a methodical approach to predict the values of product attributes based on customer feature configurations using machine learning. Machine learning reduces the effort compared to rule-based expert systems and is both, more accurate and faster. The approach was validated by predicting vehicle weights using industrial data.
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- This is an Open Access article, distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives licence (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is unaltered and is properly cited. The written permission of Cambridge University Press must be obtained for commercial re-use or in order to create a derivative work.
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- The Author(s), 2022.
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