Book Image

Data Science for Marketing Analytics

By : Candas Bilgin
Book Image

Data Science for Marketing Analytics

By: Candas Bilgin

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 course 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 course, you will be able to build your own marketing reporting and interactive dashboard solutions.
Table of Contents (9 chapters)
Chapter 6
Other Regression Techniques and Tools for Evaluation
Content Locked
Section 2
Evaluating the Accuracy of a Regression Model
In order to evaluate regression models, we first need to define some metrics. The common metrics used to evaluate regression models rely on the concepts of residuals and errors, which are quantifications of how much a model mispredicts a particular data point.