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Data Science for Marketing Analytics

Data Science for Marketing Analytics

By : Tommy Blanchard, Debasish Behera, Pranshu Bhatnagar
2.8 (5)
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Data Science for Marketing Analytics

Data Science for Marketing Analytics

2.8 (5)
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.
Table of Contents (12 chapters)
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Data Science for Marketing Analytics
Preface

Introduction


In the previous chapter, we introduced the concept of clustering, and practiced it using k-means clustering. However, several issues remained unresolved, such as how to choose the number of clusters and how to evaluate a clustering technique once the clusters are created. This chapter aims to expand on the content of the previous one and fill in some of those gaps.

There are a number of different methods for approaching the problem of choosing the number of clusters when using k-means clustering, some relying on judgment and some using more technical quantitative measures. You can even use clustering techniques that don’t require you to explicitly state the number of clusters; however, these methods have their own tradeoffs and hyperparameters that need to be tuned. We’ll study these in this chapter.

We also have only dealt with data that is fairly easy for k-means to deal with: continuous variables or binary variables. In this chapter, we’ll explain how to deal with data containing...

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