A Review and Analysis of Machine Learning and Statistical Approaches for Prediction

India is the third largest natural rubber producing country of the world, next to Thailand and Indonesia, producing about 9 per cent of the global output. Kerala is the largest natural rubber producing state in India. Among the major plantation crops, natural rubber occupies a major role in agriculture income of Kerala state. The frequent up and down in the rubber price affect the daily life of those involved in the rubber production and consumption. Forecasting is the use of historic data to determine the direction of future trends. Accurate price forecasting of rubber will help the producers and consumers to avoid risk or loss in business. The objective of this survey is to do an experimental analysis for identifying a prediction model which can be used for predicting the Indian natural rubber price with better accuracy and minimum error.