We know that discretizing or binning the continuous variables in modeling is almost always a bad idea. We lose information that contains in a continuous variable after discretizing it. However, we may not realize that it can be misleading if we extract insights after binning the continuous variable the wrong way. To illustrate this point,… Read More »
One of my previous posts introduced effective data exploration methods. This post will introduce some great R packages for exploratory data analysis. We will still use the same customer churn data for demonstration purposes. The first package is the DataExplorer package. The package is extremely easy to use. Almost everything could be done in one… Read More »
Maximizing the marketing campaign’s incremental impact is more important than ever during this challenging time. We want to get the maximum return out of the marketing dollars spent. Therefore, we need to target people who are ONLY likely to buy if they are included in a campaign. Targeting people who are going to buy anyways… Read More »
There are many situations that we will need to forecast something in business, either the demand or sales, supply or inventory. Fortunately, we have many tools that have made it easy to generate decent forecast very quickly. R has several packages that provide automated forecasting with a couple lines of code needed. In this post,… Read More »