Application Research of Data-Driven Cost Prediction Model in Manufacturing Industry

How to effectively predict the manufacturing cost of products in the stage of product development and design is related to the market competitiveness of products, cost control in the stage of production and rapid feedback to customers in the process of order management. Therefore, it has become an important part of enterprise cost management activities and even business decision-making to predict the manufacturing cost of new products in the product design stage. In this paper, the product is taken as the research object, and the product manufacturing cost prediction model based on LS-SVM is constructed, which provides effective basis and information for business decision-making and cost control management. Product modularization and structure decomposition, analysis of the influencing factors of product manufacturing cost and LS-SVM prediction model are put forward, and the research ideas and technical routes are described. The solution and evaluation of the product manufacturing cost prediction model based on LS-SVM are explained. The basic process of LS-SVM prediction model is proposed, and each step is explained. The necessity of the evaluation of the prediction model is analyzed, and the evaluation index and calculation method of the prediction model are explained.