An application of machine learning regression to feature selection: a study of logistics performance and economic attribute

Abstract

AbstractThis study demonstrates how to profit from up-to-date dynamic economic big data, which contributes to selecting economic attributes that indicate logistics performance as reflected by the Logistics Performance Index (LPI). The analytical technique employs a high degree of productivity in machine learning (ML) for prediction or regression using adequate economic features. The goal of this research is to determine the ideal collection of economic attributes that best characterize a particular anticipated variable for predicting a country’s logistics performance. In addition, several potential ML regression algorithms may be used to optimize prediction accuracy. The feature selection of filter techniques of correlation and principal component analysis (PCA), as well as the embedded technique of LASSO and Elastic-net regression, is utilized. Then, based on the selected features, the ML regression approaches artificial neural network (ANN), multi-layer perceptron (MLP), support vector regression (SVR), random forest regression (RFR), and Ridge regression are used to train and validate the data set. The findings demonstrate that the PCA and Elastic-net feature sets give the closest to adequate performance based on the error measurement criteria. A feature union and intersection procedure of an acceptable feature set are used to make a more precise decision. Finally, the union of feature sets yields the best results. The findings suggest that ML algorithms are capable of assisting in the selection of a proper set of economic factors that indicate a country's logistics performance. Furthermore, the ANN was shown to be the best effective prediction model in this investigation.