Problem and data domain
We will employ regression techniques to understand the relationship between yearly spending and other parameters. Regression is a way to find out whether and how different factors (like time spent on an app or website) relate to how much customers spend in the online store. It helps us understand and predict customer behavior. By understanding which factors are most influential in driving sales, an e-commerce store can tailor its strategies to enhance these areas and potentially increase revenue.
Dataset overview
The e-commerce store collects the following information from the customer:
- Email: This is the customer’s email address. It is a unique identifier for each customer and can be used for communication, such as sending order confirmations, newsletters, or personalized marketing offers.
- Address: This refers to the physical address of the customer. It’s crucial for delivering products they have purchased. Additionally...