A Hybrid Cost Estimation Framework Based On Feature-Oriented Data Mining Approach

This paper presents an informatics framework to apply feature-based engineering concept for cost estimation supported with data mining algorithms. The purpose of this research work is to provide a practical procedure for more accurate cost estimation by using the commonly available manufacturing process data associated with ERP systems. The proposed method combines linear regression and data-mining techniques, leverages the unique strengths of the both, and creates a mechanism to discover cost features. The final estimation function takes the user's confidence level over each member technique into consideration such that the application of the method can phase in gradually in reality by building up the data mining capability. A case study demonstrates the proposed framework and compares the results from empirical cost prediction and data mining. The case study results indicate that the combined method is flexible and promising for determining the costs of the example welding features. With the result comparison between the empirical prediction and five different data mining algorithms, the ANN algorithm shows to be the most accurate for welding operations. (C) 2015 Elsevier Ltd. All rights reserved.