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What is a typical use of Decision Trees in marketing?

Practice Questions

Q1
What is a typical use of Decision Trees in marketing?
  1. Customer segmentation
  2. Image classification
  3. Speech recognition
  4. Time series forecasting

Questions & Step-by-Step Solutions

What is a typical use of Decision Trees in marketing?
  • Step 1: Collect data on customer purchases, such as what products they buy and how often.
  • Step 2: Organize the data to identify patterns in customer behavior.
  • Step 3: Use a Decision Tree algorithm to analyze the data and create a model that segments customers based on their purchasing behavior.
  • Step 4: Interpret the Decision Tree to understand different customer segments, such as frequent buyers or occasional shoppers.
  • Step 5: Use the insights from the Decision Tree to tailor marketing strategies for each customer segment.
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