Task ‘A’ - Caravan Insurance Report
Description: You will work in a group of 4 as strategic consultants to a well-known company which has a diversified business with a presence in different industries and geographical markets. You are asked to analyse the Caravan customer dataset of an insurance company. The Dataset was supplied by a Dutch Data Mining Company Sentinel Machine research. Problem is based on a real-world business problem. The feature of interest is whether a customer buys a caravan insurance.
Information about customers consists of 86 variables:
• 43 socio-demographic variables derived via the customer's ZIP area code,
• 43 variables about ownership of other insurance policies.
Data Size:
o 9822 records: 5822 training records and 4000 test records
o 86 attributes
Challenges: The data analytical task is to predict whether a customer is interested in a caravan insurance policy from the data. You should first do some exploratory data analysis. Visualising the data should give you some insight into certain particularities of this dataset. Then prepare the data for data mining. It will be important to select the right features, and to construct new features from existing ones. Try out at least three different data mining algorithms.
Second challenge is to derive information about the profile of a typical caravan insurance buyer to give a clear insight to why customers have a caravan policy and how these customers are different from other customers.
The Data and associated data dictionary can be downloaded from the SurreyLearn.
Feature selection and extraction will be very important. You need to find out if data is noisy or unbalanced.
Ensure that the analysis, the critical arguments and conclusions contained in the report are supported by the evidence. The descriptions and interpretation must be comprehensible, useful and actionable for a marketing professional with no prior knowledge of technical jargon. The value of a description is inherently subjective.
Marking Scheme:
Marks will be awarded on the basis of the following marking grid.
Please note that despite the detail this list provides, the final mark relies on the experience and judgement of the marker and the moderator, and marks are not negotiable. If you require further discussion about your assignment for future work please contact the teaching staff.
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