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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

Random Forest


The decision tree algorithm that we saw earlier faced the problem of overfitting. Since we fit only one tree on the training data, there is a high chance that the tree will overfit the data without proper pruning. The random forest algorithm reduces variance/overfitting by averaging multiple decision trees, which individually suffer from high variance.

Random forest is an ensemble method of supervised machine learning. Ensemble methods combine predictions obtained from multiple base estimators/classifiers to improve the overall prediction/robustness. Ensemble methods are divided into the following two types:

  • Bagging: The data is randomly divided into several subsets and the model is trained over each of these subsets. Several estimators are built independently from each other and then the predictions are averaged together, which ultimately helps to reduce variance (overfitting).

  • Boosting: In the case of boosting, base estimators are built sequentially and each model built is...

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