develop a model that will maximize profits for direct-mail marketing id est. a model that would identify customers who will respond to a direct-mail marketing promotion,

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The clothing_store data set represents actual data provided by a clothing store chain in New England. Data were collected on 51 fields for 28,799 customers.

 

Your task is to develop a model that will maximize profits for direct-mail marketing (id est. a model that would identify customers who will respond to a direct-mail marketing promotion, based on information collected about the customers). However, it will not be sufficient just to derive the model with the most accurate predictions. You should also consider how the problem fits into the business goal of maximizing profits. Therefore, the goal of the model should also be to maximize profits, rather than simply to report impressive values for model performance.

 

First, explore the data to understand it and to develop the methodology for the next steps. There exist multiple solutions to this task. Be creative!

 

You should prepare in-depth solutions using Python or R, without limiting this task to omitting multiple variables.

 

You may refer to the book Larose D.T., Larose C.D. Data Mining and Predictive Analytics (Wiley Series on Methods and Applications in Data Mining) . Though, please produce your own and unique solutions.

 

Submit your final project report as pdf with relevant text descriptions explaining your logic behind the solutions, code and output, graphs and captions to them (graph title is not enough!), and conclusions/advice towards maximizing profits.

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