Design of a novel Prediction Engine for predicting suitable salary for a job

Abstract

Prediction engine is a tool which can forecast a future outcome using a set of past observation. In present days Prediction engines have become increasingly popular as they are producing accurate and affordable predictions almost similar to human. The additional advantage of using prediction engine is, it does not take decisions by itself it predicts and leaves the decision making to human/users. These prediction engines are now being using by researchers and industry for prediction of plethora of problems. Providing suitable and justified salary for any job has always been a challenging problem for not only the employer but it is also an important factor for the employee. For an individual searching for a job, salary may not be the prime factor but it is an important factor along with the others factors to meet one's basic human needs. In this paper, machine learning techniques are used to automate and formulate a proposed model for salary prediction. The proposed Prediction engine can predict the salary on the basis of some key features. The proposed approach a raw dataset is fit into decision models like decision tree and ensembles model. The results obtained are encouraging and with high precisions.

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