Assessing Residual Value of Heavy Construction Equipment Using Predictive Data Mining Model

  title={Assessing Residual Value of Heavy Construction Equipment Using Predictive Data Mining Model},
  author={Hongqin Fan and Simaan M. AbouRizk and Hyoungkwan Kim and Osmar R. Za{\"i}ane},
Construction equipment constitutes a significant portion of investment in fixed assets by large contractors. To make the right decisions on equipment repair, rebuilding, disposal, or equipment fleet optimization to maximize the return of investment, the contractors need to predict the residual value of heavy construction equipment to an acceptable level of accuracy. Current practice of using rule-ofthumb or statistical regression methods cannot satisfactorily capture the dynamic relationship… CONTINUE READING
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