Machine Learning-Based Business Trend Analysis for Informed SME Investment Decisions
The success of a business hinges on effective planning and management. Business planning, which must be meticulously studied and analyzed, forms the foundation for this success. In this research, Machine Learning and data mining techniques such as Multilayer Perceptron and Linear Regression were employed to analyze trends in three service sectors: Accommodation, Food and Beverage Services, and Travel businesses from 2016 to 2021, using data from the Office of Small and Medium Enterprises Promotion (OSMEP). The results of the three-year forecast reveal compelling insights. Businesses with total assets up to 1 million baht show promising prospects in the guest house sector (67%). For businesses with assets ranging from 1 to 10 million baht, student room services lead with an 81% rating. Non-alcoholic beverage businesses with assets exceeding 10 million baht demonstrate strong potential at 83%. In the medium-sized category, hotels and resorts perform well at 71%, while large-scale food restaurants lead with a 75% rating.
Authors
- Thongchai Kaewkiriya
Institutions
- Bangkok University (TH)
Publication Details
- Published
- 2024-11-14
- DOI
- https://doi.org/10.1109/incit63192.2024.10810570
- Primary Topic
- Impact of AI and Big Data on Business and Society
- Type
- article
- Field-Weighted Citation Impact
- 0.00