Regression Problems
The prediction of quantities is a recurring task in marketing. Predicting the units sold for a brand based on the spend on the visibility (impressions) allocated to the brand's products is an example. Another example could be predicting sales based on the advertising spend on television campaigns. Predicting the lifetime value of a customer (the total revenue a customer brings over a defined period) based on a customer's attributes is another common requirement. All these situations can be formulated as regression problems.
Note
A common misconception is that regression is a specific algorithm/technique. Regression is a much broader term that refers to a class of problems. Many equate regression to linear regression, which is only one of the many techniques that can be employed to solve a regression problem.
Regression refers to a class of problems where the value to predict is a quantity. There are various techniques available for regression...