Engineering Simulation of Market Value of Construction Materials

E Puchkov (), N Osadchaya () and A Murzin ()
Additional contact information
E Puchkov: Don State Technical University Rostov on Don Russian Federation, Postal: RU
N Osadchaya: Don State Technical University Rostov on Don Russian Federation, Postal: RU
A Murzin: Southern Federal University Rostov on Don Russian Federation Don State Technical University Rostov on Don Russian Federation, Postal: RU

Journal of Advanced Research in Law and Economics, 2018, vol. 9, issue 2, 615-624

Abstract: Material resources are one of the main elements of the construction cost estimate The nomenclature of material resources includes a large number of items It is impossible to objectively estimate the construction cost capital construction and maintenance works without carrying out monitoring of the prices of constructional resources and accounting for these data in estimates The purpose of the present study consists in developing an engineering approach to the simulation of pricing in the construction materials market To achieve this purpose we use mathematical statistics methods such as linear regression and autoregressive integrated moving average as well as machine learning methods namely gradient boosting and recurrent neural networks In consequence of this work we proposed a scheme to store statistical information based on the SpagoBI business intelligence platform as well as designed hybrid intelligent predictive model which allowed automating the engineering approach to the prediction of prices and objectifying advanced analytics of the construction materials market The proposed engineering approach allows predicting the dynamics of the construction materials market segments when managing the construction cost at the level of enterprise and the region that will enable adequate decision making in the course of investment projects development

Date: 2018
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:srs:jarle0:v:9:y:2018:i:2:p:615-624

Access Statistics for this article

Journal of Advanced Research in Law and Economics is currently edited by Madalina Constantinescu

More articles in Journal of Advanced Research in Law and Economics from ASERS Publishing
Bibliographic data for series maintained by Claudiu Popirlan ( this e-mail address is bad, please contact ).