Ended on 14th Dec'20 03:30 PM (Coordinated Universal Time)
Data Sprint #17: Online Auction
Predict the closing price in an online auction
394
Easy
Challenge Starts
11 Dec 03:30 pm
Registration Ends
14 Dec 03:30 pm
Challenge Ends
14 Dec 03:30 pm
Context
An online auction (or also electronic auction or e-auction or eAuction) is an auction which is held over the internet and there is no in-person bidding available. Bidding can be done on most current computers with an internet connection.
Problem Statement
Putting out an item for an online auction can be very tricky and even stressful sometimes. You may be struggling with how much you can put as an opening bid or how much the final bid will be. If you were able to predict the final bid, you could simply choose an appropriate opening bid or even decide to not auction the item at all.
Objective
Build a Machine Learning model to predict the closing price in an online auction.
Evaluation Criteria
Submissions are evaluated using Root Mean Squared Error (RMSE).
How do we do it?
Once we release the data, anyone can download it, build a model, and make a submission. We give competitors a set of data (training data) with both the independent and dependent variables.
We also release another set of data (test dataset) with just the independent variables, and we hide the dependent variable that corresponds with this set. You submit the predicted values of the dependent variable for this set and we compare it against the actual values.
The predictions are evaluated based on the evaluation metric defined in the datathon.
