Book Image

Data Science for Marketing Analytics

By : Tommy Blanchard, Debasish Behera, Pranshu Bhatnagar
Book Image

Data Science for Marketing Analytics

By: Tommy Blanchard, Debasish Behera, Pranshu Bhatnagar

Overview of this book

Data Science for Marketing Analytics covers every stage of data analytics, from working with a raw dataset to segmenting a population and modeling different parts of the population based on the segments. The book starts by teaching you how to use Python libraries, such as pandas and Matplotlib, to read data from Python, manipulate it, and create plots, using both categorical and continuous variables. Then, you'll learn how to segment a population into groups and use different clustering techniques to evaluate customer segmentation. As you make your way through the chapters, you'll explore ways to evaluate and select the best segmentation approach, and go on to create a linear regression model on customer value data to predict lifetime value. In the concluding chapters, you'll gain an understanding of regression techniques and tools for evaluating regression models, and explore ways to predict customer choice using classification algorithms. Finally, you'll apply these techniques to create a churn model for modeling customer product choices. By the end of this book, you will be able to build your own marketing reporting and interactive dashboard solutions.

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Table of Contents (12 chapters)
Data Science for Marketing Analytics
Data Science for Marketing Analytics
Preface
Preface
Free Chapter
1
Data Preparation and Cleaning
Data Preparation and Cleaning
Introduction
Data Models and Structured Data
pandas
Data Manipulation
Summary
2
Data Exploration and Visualization
Data Exploration and Visualization
Introduction
Identifying the Right Attributes
Generating Targeted Insights
Visualizing Data
Summary
3
Unsupervised Learning: Customer Segmentation
Unsupervised Learning: Customer Segmentation
Introduction
Customer Segmentation Methods
Similarity and Data Standardization
k-means Clustering
Summary
4
Choosing the Best Segmentation Approach
Choosing the Best Segmentation Approach
Introduction
Choosing the Number of Clusters
Different Methods of Clustering
Evaluating Clustering
Summary
5
Predicting Customer Revenue Using Linear Regression
Predicting Customer Revenue Using Linear Regression
Introduction
Understanding Regression
Feature Engineering for Regression
Performing and Interpreting Linear Regression
Summary
6
Other Regression Techniques and Tools for Evaluation
Other Regression Techniques and Tools for Evaluation
Introduction
Evaluating the Accuracy of a Regression Model
Using Regularization for Feature Selection
Tree-Based Regression Models
Summary
7
Supervised Learning: Predicting Customer Churn
Supervised Learning: Predicting Customer Churn
Introduction
Classification Problems
Understanding Logistic Regression
Creating a Data Science Pipeline
Modeling the Data
Summary
8
Fine-Tuning Classification Algorithms
Fine-Tuning Classification Algorithms
Introduction
Support Vector Machines
Decision Trees
Random Forest
Preprocessing Data for Machine Learning Models
Model Evaluation
Performance Metrics
Summary
9
Modeling Customer Choice
Modeling Customer Choice
Introduction
Understanding Multiclass Classification
Class Imbalanced Data
Summary
Appendix
Appendix
Chapter 1: Data Preparation and Cleaning
Chapter 2: Data Exploration and Visualization
Chapter 3: Unsupervised Learning: Customer Segmentation
Chapter 4: Choosing the Best Segmentation Approach
Chapter 5: Predicting Customer Revenue Using Linear Regression
Chapter 6: Other Regression Techniques and Tools for Evaluation
Chapter 7: Supervised Learning: Predicting Customer Churn
Chapter 8: Fine-Tuning Classification Algorithms
Chapter 9: Modeling Customer Choice

Customer Segmentation Methods

Customer segmentation is the act of separating (segmenting) your target customers into different groups based on demographic or behavioral data so that marketing strategies can be tailored more specifically to each group. Being able to accurately segment a customer population is becoming increasingly important in today's digital world, where products and advertisements are created to target more and more specific subsets of the population. It is also an important part of allocating marketing resources properly because, by targeting specific customer groups, you can achieve higher return on investment for your marketing initiatives.

Every marketing group does some amount of customer segmentation. However, the methods they use to do this might not always be clear. These may be based on intuitions and hunches about certain demographic groups, or they might be the output of some marketing software, where the methods used are actually obscure. There are advantages...

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