Estimating the cost of crude steel production: a machine learning approach

Sacrifice stands for the production of goods and function, constitutes the costs of enterprises. Cost is also defined as the provision of consumed goods and functions by a production enterprise. Accuracy of enterprise activity analysis is very important in order to make appropriate decisions in enterprises. The consistency of the results ensures correct decision-making; provides right marketing and competitive advantage. Various elements are effective in the process of product costing. The items on the basis of product are examined one by one and the analysis is carried out to obtain the unit costs that reflect the reality. The aim of this study is to investigate the factors affecting the costs and to estimate the cost in the integrated system, with data mining classifying models in the process of billet production, in an a enterprise for the Iron and Steel sector. It is targeted to compare obtained estimation results with the costs presented inside the enterprise.