Predictive Analytics and Machine Learning
Iain Brown · 2024
Predictive analytics and machine learning represent transformative technologies in the marketing domain, bridging the historical and future aspects of business operations. Linear and logistic regression are foundational techniques in predictive analytics and machine learning. Time series forecasting is a crucial component of predictive analytics and machine learning, particularly relevant in the field of marketing. Supervised learning is one of the main categories of machine learning. Unsupervised learning is another primary branch of machine learning. The chapter explores various model evaluation metrics and techniques. Churn prediction, customer lifetime value assessment, and propensity modeling stand out for their value in understanding, retaining, and maximizing the potential of a customer base. The chapter delves into these concepts and their significance in today's data-driven marketing landscape. In conclusion, market basket analysis and recommender systems have revolutionized the retail and entertainment industries, among others.