Supervised Learning and Its Applications in Marketing

O.P. Jindal Global University via Coursera

Overview

Welcome to the Supervised Learning and Its Applications in Marketing course! Supervised learning is the process of making an algorithm to learn to map an input to a particular output. Supervised learning algorithms can help make predictions for new unseen data. In this course, you will use the Python programming language, which is an effective tool for machine learning applications. You will be introduced to the supervised learning techniques: regression and classification. The course will focus on the applications of these techniques in the domain of marketing. With the growing amount of data and applications of machine learning in marketing, we can easily find examples of the usage of machine learning in marketing efforts. Companies are starting to use machine learning to better understand customer behaviors and identify different customer segments based on their activity patterns. Many organizations also use machine learning to predict future customer behaviors, such as what items they are likely to purchase, which websites they are likely to visit, and who are likely to churn. With endless use cases of machine learning for marketing, companies of all sizes can benefit from using machine learning for their marketing efforts. To succeed in this course, you should have a basic understanding of Python. You will also need certain software requirements, including an Anaconda navigator.

Syllabus

Introduction to Supervised Learning in Marketing

In this module, you will be introduced to the concept and applications of supervised learning with various real-life examples. The module will introduce you to the major challenges faced by marketers in this fast-paced world. You will also learn the introductory concepts of machine learning. Practical applications of supervised learning in marketing, including customer segmentation, churn prediction, recommendation systems, and predictive modeling, will be emphasized through case studies. By the end of the module, you will have the skills to apply supervised learning algorithms effectively in marketing analytics and make data-driven decisions to drive business growth.

Getting Started With Supervised Learning in Marketing

In this module, you will be introduced to some key performance indicators (KPIs) and learn how to visualize these key metrics. You will learn how to compute and build visual plots of these KPIs in Python and how to use machine learning algorithms to understand what drives the successes and failures of marketing campaigns. This module is designed to provide learners with a comprehensive introduction to the fundamental concepts and practical applications of supervised learning in the field of marketing. In this module, learners will explore the basics of supervised learning, including the distinction between labeled and unlabeled data and the process of training and evaluation of supervised learning models. Throughout the module, learners will also gain hands-on experience working with industry-standard tools and platforms, such as Python and scikit-learn, to implement and evaluate supervised learning models. By the end of the module, learners will have the necessary knowledge and skills to apply supervised learning techniques to extract valuable insights from marketing data and make data-driven decisions that drive business growth and success.

Weekly Summative Assessment: Supervised Learning in Marketing

This assessment is a graded quiz based on the modules covered this week.

Deriving Insights from Data

In this module, you will dive deeper into the world of decision trees and gain hands-on experience in building and interpreting these powerful models. Through practical exercises and Python programming, you will learn how to construct decision trees from scratch and leverage them to extract valuable insights from marketing data. Additionally, you will explore the significance of product analysis and discover how to uncover crucial analytical components using Python-based tools and techniques. By the end of this module, you will have a comprehensive understanding of decision trees, their application in marketing, and the ability to derive actionable insights from your data-driven analyses. Get ready to sharpen your analytical skills and unlock the potential of decision trees in the realm of marketing.

Product Recommender System

In this module, you will explore the fascinating world of product recommendation systems. You will learn how these systems leverage machine learning techniques to provide personalized recommendations to customers, enhancing their shopping experience and driving sales. You will understand the different types of recommendation algorithms, such as collaborative filtering and content-based filtering, and how they can be implemented using Python. Through hands-on exercises and real-world examples, you will discover how to collect and analyze customer data, build recommendation models, and evaluate their performance. By the end of this module, you will have the skills and knowledge to develop and deploy effective product recommendation systems, enabling you to target customers with tailored recommendations and improve customer satisfaction and engagement.

Weekly Summative Assessment: Deriving Insights from Data and Product Recommender System

This assessment is a graded quiz based on the modules covered this week.

Personalized Marketing

In this module, you will delve into the fascinating world of customer analytics and gain valuable insights into how data can be leveraged to understand customer behavior in a marketing context. Through a combination of theory and hands-on practice, you will learn how to apply supervised learning techniques to predict the likelihood of marketing engagement. By analyzing historical customer data and implementing machine learning algorithms in Python, you will discover how to uncover patterns, trends, and hidden insights that can drive effective marketing strategies. The module will also provide practical guidance on implementing customer analytics using Python, enabling you to manipulate, analyze, and visualize data to extract meaningful information. By the end of this module, you will have a solid foundation in customer analytics and be equipped with the skills to make data-driven marketing decisions, enhance customer engagement, and maximize business success.

Customer Lifetime Value

In this module, you will delve into the concept of customer lifetime value (CLV) and its significance in marketing. You will learn how to measure CLV, which involves quantifying the long-term value a customer brings to a business. By understanding CLV, you can make informed decisions regarding customer acquisition, retention, and marketing strategies. Additionally, you will explore machine learning models specifically designed for CLV predictions. You will gain hands-on experience in building and training these models using Python, allowing you to forecast the future value of customers based on their historical data. By the end of the module, you will have a comprehensive understanding of CLV and the skills to develop accurate predictions using machine learning techniques, empowering you to make data-driven decisions to maximize customer value and drive business growth.

Weekly Summative Assessment: Personalized Marketing and Customer Lifetime Value

This assessment is a graded quiz based on the modules covered this week.

Retaining Customers

In this module, you will delve into the topic of customer churn prediction and retention strategies. You will learn how to identify customers who are at risk of churning and implement proactive measures to retain them. Additionally, you will explore the application of artificial neural networks (ANNs) in predicting customer churn. ANNs are powerful machine learning models that can capture complex patterns and relationships in the data. You will gain hands-on experience in building neural network models using Python and leveraging their predictive capabilities to identify customers who are likely to churn. By the end of this module, you will be equipped with the knowledge and tools to analyze customer churn data, develop effective retention strategies, and implement neural network models to predict customer churn in the marketing domain.

Deployment of Supervised Learning Models

In this module, you will delve into the real-life challenges associated with deploying artificial intelligence (AI) solutions, explore the issues organizations commonly face, and examine the future scope of AI technologies. The module will provide a comprehensive understanding of the practical considerations and obstacles encountered while implementing AI in various industries and sectors. You will explore topics such as data quality and availability, ethical considerations, regulatory compliance, model interpretability, and scalability. Additionally, you will gain insights into the potential impact of AI on the job market, economy, and society as a whole. By the end of the module, you will be equipped with valuable knowledge and perspectives to navigate the complexities of AI deployment, anticipate future trends and challenges, and make informed decisions to drive successful AI initiatives in real-world scenarios.