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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

Understanding Multiclass Classification


The classification algorithms that we discussed earlier were mostly binary classifiers, where the target variable can have only two categorical values or classes. However, there can be scenarios where we have more than two classes to classify samples into. For instance, given data on customer transactions, the marketing team may be tasked with identifying the credit card product most suitable for a customer, such as cashback, air miles, gas station, or shopping.

Multiclass classification can be broadly divided into the following three categories:

  1. Multiclass classification: Multiclass classification problems involve classifying instances or samples into one class out of multiple classes (more than two). Each sample is assigned only one label and cannot be assigned more than one label at a time. For example, an image can be classified as that of a cat, dog, or rabbit, and not more than one of them at the same time.

  2. Multilabel classification: In the case...

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