Segmentation If the segmentation is done using values of known variables when the target is unknown, then these segments can be used to predict the value of the target variable. Example “Middle-aged professionals who reside in New York City on average have a churn rate of 5%” Definition of the segment “middle-aged professionals who reside […]
Continue Reading... No Comments.Model A simplified representation of reality created to serve a purpose. E.g., Map, Architectural blueprint, Engineering prototype Mathematical Model E.g., a formula: V=IR Prediction To estimate an unknown value (target variable) Predictive Model To setup a formula for estimating an unknown value (target variable) of interest Supervised Learning It is often built and tested using […]
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