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Binary Classification Model for Caravan Insurance Marketing Using R This visualization can be observed in the notebook and I see that my model logistic regression on the unbalanced dataset turns out to be the most profitable model out of the all 18 models at an optimal cutoff value. The company wants to spend 10% per unit of revenue to cross selling (marketing plus penetration pricing) and achieve maximum profit by balancing cost and target numbers. Many Git commands accept both tag and branch names, so creating this branch may cause unexpected behavior. We all want to keep costs low, especially in todays economic climate, and it might be tempting to let your caravan insurance lapse. Source Download: Data Folder, Data Set Description, Abstract: This data set used in the CoIL 2000 Challenge contains information on customers of an insurance company. The data was supplied by the Dutch data mining company Sentient Machine Research and is based on a real world business problem. KDD. [View Context].Stefan R uping. The marketing department of the company knew that taking advantage of the existing customer base would improve their new insurances sale, however, the biggest question is whom to target, among the companys thousands of customers. There are 60 insurance datasets available on data.world. The sociodemographic . References Caravan insurance data mining statistical analysis, Product Planning Manager, Oncology & Hospital Specialty Care Marketing at MSD. I like this service www.HelpWriting.net from Academic Writers. MAPPING TARGET VARIABLES AS PREDICTORS OF CARAVAN INSURANCE BUYERS: These predictions have been made with descriptive statistics results of the data set along with the real world logical themes (Appendix-1) FACTOR 1: AGE Middle aged people are more likely to get caravan insurance FACTOR 2: ATTITUDE TOWARDS SPENDING/ BUYING People with a liberal The caravan of migrants hoping to gain entry into the United States has been the subject of much controversy in recent days. Anti-snaking devices are now becoming more common as standard on new caravans, but they can also be retro-fitted to older vans too. jayanttikmani/cross-sellingCaravanInsuranceUsingDataMining - Github for anyone to share extensions of Caravan to new regions. http://www.liacs.nl/~putten/library/cc2000/ The training set contains over 5000 descriptions of customers, including the information of whether or not they have a caravan insurance policy. Dataset contains monthly counts, from 1971 to present, of initial claims for regular unemployment insurance benefits. Other variables are mainly sociodemographic data and product ownership and for simplicity, we treat them as numerical data. Learn more. 2.1. Caravan Insurance | Comparethemarket A simple alarm, for example, can save you 5% off your premium. For my first part of the analysis, I used Data Visualization and Association Rules to understand the characteristics of caravan mobile home insurance buyers. This commit does not belong to any branch on this repository, and may belong to a fork outside of the repository. Therefore, the high accuracy of these models is of limited use as they do not help in classifying success class observations correctly, which is my main objective. Participants are supposed to return the list of predicted targets only. Published by Sentient Machine Research, Amsterdam. Once insured you will be able to build your caravanning no claims bonus and thus discount this could get you up to 20% off a quote for three years claim free caravanning. If R says the Caravan data set is not found, you can try installing the package by issuing this command install.packages("ISLR") and then attempt to reload the data. Compute time series of spatially-averaged meteorological forcings on Google Earth Engine. Club Care's Caravan Insurance covers your contents and equipment too plus personal injury, public liability, loss of use and accidental damage, theft and fire - so it's well worth the investment. 57, iss. Please As per the current situation the company has to approach all 4000 customers with the policy. Taking some extra precautions can reduce your premium considerably, so read on for our top tips to keep your insurance as cheap as possible. [View Context].Stephen D. Bay and Dennis F. Kibler and Michael J. Pazzani and Padhraic Smyth. These results along with other performance measures and ROC curves for my classification models on the under sampled data can be found in the jupyter notebook. A test dataset contains another 4000 customers whose information will be used to test the effectiveness of the machine learning models. For my later part of the analysis, I used the aforementioned classification models to devise an optimal go to market strategy depending on. product usage data and socio-demographic data derived from zip area codes supplied by the Dutch TICEVAL2000.txt: Dataset for predictions (4000 customer records). Published by Sentient Machine A data frame with 5822 observations on 86 variables. Multi-Model Approach to Unbalanced Data with Caravan Dataset All Rights Reserved,