299. Discovering specific customers using Machine Learning for Marketing Strategies.
Invited abstract in session HE-14: Ethics and OR, Public Service, Societal Complexity, and the Common Good, stream OR and Ethics, and Societal Perspectives.
Thursday, 14:15-15:45Room: HG – Hörsaal 01
Authors (first author is the speaker)
| 1. | Ioannis Tsiligkaridis
|
| Heritage University |
Abstract
Our business model is based on Machine Learning (ML) techniques that can attract more customers to buy bank products. We focus on how much each feature of a dataset contributes to the model predicting customer behavior.
An ensemble model consisting of Random Forest and XGBoost classifiers is used to identify potential customers. The XGBoost is strongly reliant on a certain variable.
The feature importance of both ensembles uses socioeconomic indicator variables from a bank’s demographic attributes dataset, and it serves as a global explainability method for business decision making.
Keywords
- Data Mining
- Marketing
- Machine Learning
Status: accepted
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