A. Ahlemeyer-Stubbe
Good Models out of an assembly line or advances in targeting
in Transactions on Machine Learning and Data Mining, Volume 7, Number 2,
ibai publishing, Leipzig, October 2014
Abstract:
To detect fast changes in customer behavior or to react in as focused a manner as possible, predictive modelling must be done in good quality to get effective predictions of customer behavior and it has to be done fast to be relevant under business aspects. Modeling speed is of great importance in industry as time is a crucial factor. This necessity requires a different technical set up for model development to fulfill both needs: quality and development speed. Today most companies like to develop their models individually with the help of specialists.
But for a lot of companies, this way takes too long: even though the models are excellent, the time to develop them sometimes kills the advantages of a better prediction. This article describes the general structure and ideas how to implement industry-focused model production that will help to react quickly to changing behavior. We will discuss the key success factors and the pitfalls of this assembly line model product.
Keywords:
Fully automated targeting, predictive targeting, predictive modelling, technical set up for model development
