Application of Data Mining to Labor Cost Estimation
HE Shu-ming · Journal of Chongqing Technology and Business University · 2012
An entrepreneur emphatically considers the future profitability of the enterprise before conducting investment,however,whether the enterprise has the profit depends on earnings and expenditure,the total sum of employees wages(main part of labor cost),as an important expenditure of the enterprise,is naturally considered by the entrepreneurs' investment decision-making,as a result,the rational estimation on labor cost in different regions and in different industries of China plays an important role in investment decision-making.Based on data mining of clustering analysis,through empirical study,this paper makes analysis and comparison of wages level in 19 industries and 31 provinces and municipalities of mainland China and provides support for enterprise investors by more intuitively revealing the inherent meaning of the estimation.