Our Goal

Build a binary classification model to predict if a customer will make a term deposit.

The Data

The data comes from telemarketing campaigns of a Portuguese bank. Often, more than one contact to the same customer was required, in order to know if a sign up for the product (term deposit) would be (yes) or (no).

Term deposits, also known as, a certificate of deposit, (CD), is a type of savings account that has a fixed interest rate and fixed date of withdrawal, known as the maturity date. Typically there are no risks associated with these and the longer the term length, the more you will earn.

Data Dictionary

Key Takeaways

Insights

As successful outcomes of previous marketing campaigns increase by one unit, a customer is 1.9x as likely to sign up for a term deposit
As marketing activity increases by one unit in March, October, December, and September – a customer is 1.3x, 1.17x, 1.15x, and 1.12x as likely to sign up for a term deposit

Recommendations

Target customers with previous conversions
- Tactic: Create a customer segment of folks with at least one past conversion
Increase tele-marketing outreach in March, September, October, and December
- Tactic 1: Run promotions around tentpole holidays/events or create our own themes
- Tactic 2: Run an experiment to determine the best promotion to drive conversions