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Play the role of Chris Grey and construct a classification model to identify customers who are likely to respond to a mailing. Create a report
Play the role of Chris Grey and construct a classification model to identify customers who are likely to respond to a mailing. Create a report that documents the following steps:
- Explore the data. Because of the large number of variables, it may be helpful to filter out unnecessary and redundant variables.
- Appropriately partition the data set into training, validation, and test sets. Experiment with various classification methods and propose a final model for identifying customers who will respond to the targeted marketing.
- Your report should include appropriate charts (ROC curves, lift charts, etc.) and include a recommendation on how to apply the results of your proposed model. For example, if GCC sends the targeted marketing to the top 10% of the test set that the model believes is most likely to renew, what is the expected response rate? How does that compare to the industry's average response rate?
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