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Data Science for Marketing Analytics

You're reading from   Data Science for Marketing Analytics Achieve your marketing goals with the data analytics power of Python

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Product type Paperback
Published in Mar 2019
Publisher
ISBN-13 9781789959413
Length 420 pages
Edition 1st Edition
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Authors (3):
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Tommy Blanchard Tommy Blanchard
Author Profile Icon Tommy Blanchard
Tommy Blanchard
Debasish Behera Debasish Behera
Author Profile Icon Debasish Behera
Debasish Behera
Pranshu Bhatnagar Pranshu Bhatnagar
Author Profile Icon Pranshu Bhatnagar
Pranshu Bhatnagar
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Table of Contents (12) Chapters Close

Data Science for Marketing Analytics
Preface
1. Data Preparation and Cleaning 2. Data Exploration and Visualization FREE CHAPTER 3. Unsupervised Learning: Customer Segmentation 4. Choosing the Best Segmentation Approach 5. Predicting Customer Revenue Using Linear Regression 6. Other Regression Techniques and Tools for Evaluation 7. Supervised Learning: Predicting Customer Churn 8. Fine-Tuning Classification Algorithms 9. Modeling Customer Choice Appendix

Summary


It’s important to not only be able to perform clustering, but also use several different types of clustering algorithms and evaluate the performance of each using multiple methods, so that the correct tool can be used for the job. In this chapter, we learned various methods for choosing the number of clusters, including judgment-based methods such as visual inspection of cluster overlap and elbow determination using the sum of squared errors, and objective methods such as evaluating the silhouette score. Each of these methods has strengths and weaknesses—the more abstract and quantified the measure is, the further removed we are from understanding why a particular clustering seems to be failing or succeeding. However, as we have seen, making judgments is often difficult, especially with complex data, and this is where quantifiable methods, in particular the silhouette score, tend to shine. In practice, sometimes one measure will not give a clear answer while another does; this is...

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