Targeted Marketing and Decile Analysis using ML, Decile Charts, Lift Charts and Gain Charts
The project aims to use machine learning to improve targeted marketing efforts and increase acceptance rate of upcoming products and services. The goal is to identify and target the most likely individuals to be interested in the products being offered, which will reduce customer acquisition costs and increase overall acceptance rate.
To achieve this, the project will use prediction models to perform decile analysis on consumer data, which will be used to create lift and gain charts. These charts will provide insights on how well the marketing campaign is performing and which segments of the population are most likely to convert into leads.
The decile analysis will be used to segment the population into different groups and the lift and gain charts will help identify the top 2 deciles of consumers that are most likely to be interested in the products and services being offered. These consumers will be targeted with personalized and tailored marketing efforts.
