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Data Science for Marketing Analytics

You're reading from   Data Science for Marketing Analytics A practical guide to forming a killer marketing strategy through data analysis with Python

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Product type Paperback
Published in Sep 2021
Publisher Packt
ISBN-13 9781800560475
Length 636 pages
Edition 2nd Edition
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Authors (3):
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Vishwesh Ravi Shrimali Vishwesh Ravi Shrimali
Author Profile Icon Vishwesh Ravi Shrimali
Vishwesh Ravi Shrimali
Mirza Rahim Baig Mirza Rahim Baig
Author Profile Icon Mirza Rahim Baig
Mirza Rahim Baig
Gururajan Govindan Gururajan Govindan
Author Profile Icon Gururajan Govindan
Gururajan Govindan
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Toc

Table of Contents (11) Chapters Close

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

Performance Metrics

The performance metrics in the case of multiclass classification would be the same as what you used for binary classification in the previous chapter, that is, precision, recall, and F1 score, obtained using a confusion matrix.

In the case of a multiclass classification problem, you average out the metrics to find the micro-average or macro-average of precision, recall, and F1 score in a k-class system, where k is the number of classes. Averaging is useful in the case of multiclass classification since you have multiple class labels. This is because each classifier is going to give one class as the prediction; however, in the end, you are just looking for one class. In such cases, an aggregation such as averaging helps in getting the final output.

The macro-average computes the metrics such as precision (PRE), recall (Recall), or F1 score (F1) of each class independently and takes the average (all the classes are treated equally):

Figure 9.4: The macro...

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