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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

Modeling the Data


Modeling the data not only includes building your machine learning model but also selecting important features/columns that will go into your model. This section will be divided into two parts: Feature Selection and Model building.

Feature Selection

Before building our first machine learning model, we have to do some feature selection. Imagine a scenario where you have a large number of columns and you want to perform prediction. Not all the features will have an impact on your prediction model. Having irrelevant features can reduce the accuracy of your model, especially when using algorithms such as linear and logistic regression.

The benefits of feature selection are as follows:

  • Reduces training time: Fewer columns mean less data, which in turn makes the algorithm run more quickly.

  • Reduces overfitting: Removing irrelevant columns makes your algorithm less prone to noise, thereby reducing overfitting.

  • Improves the accuracy: It improves the accuracy of your machine learning...

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