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You are hired by Blue Moon Consulting ( BMC ) to conduct a data mining project to improve the targeting of a new financial planning
You are hired by Blue Moon Consulting BMC to conduct a data mining project to improve the targeting of a new financial planning service. The service has been quite successful so far, being marketed over the last months only via a very inexpensive wordofmouth campaign, and BMC has already garnered a large customer base without any targeting. However, the CIO of BMC believes that very accurate targeting might costeffectively expand your audience to consumers that wordofmouth would not reach.
You are given an abridged version of BMCs data science proposal found below Identify things that you believe are weaknessesflaws in their plan and explain why sentences each I encourage you to refer to the questions associated with the CRISPDM process and the Appendices in the back of the book if you are struggling to come up with feedback.
We will build a logistic regression LR model to predict service uptake for a consumer using data on BMCs existing customers, including their demographics and their past usage of the service. We believe that logistic regression is the best choice of method because it is a triedardtrue statistical technique, and we can check if the results make sense. If ther do make sense, then we can have confidence that the model will be accurate in predicting service uptake. We will then apply the model to BMCs large database of existing customers and target those whom the LR model prediets to be the most likely to use the service."
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