MARKETING MIX MODELLING USING PYTHON

EDA

PYTHON

LINER REGRESSION

RIDGE, LASSO & RANDOM FOREST

The Marketing Mix Modeling (MMM) project aims to analyze the impact of advertising budgets on sales revenue across multiple channels, including radio, TV, and newspapers. The dataset, sourced from Kaggle, provides information on ad budgets and corresponding sales revenue.

Through this Project, I have developed skills at :

  • Data Understanding: Analyze the dataset structure and contents, identifying input (ad budgets) and output variables (sales).
  • Data Cleaning: Address missing values, outliers, and inconsistencies in the data, ensuring data integrity.
  • Data Exploration: Visualize relationships between ad budgets and sales using scatter plots, correlation matrices, etc., to uncover trends and patterns.
  • Feature Engineering: Create additional features like interaction terms between marketing channels or total advertising budget across all channels.
  • Model Selection: Choose regression models such as linear regression, multiple regression, ridge regression, or random forest regression for predicting sales.
  • Model Training and Evaluation: Split the dataset into training and testing sets, train the selected model, and evaluate its performance using metrics like MSE, R-squared, etc.
    • Fine-tune model hyperparameters as necessary to optimize performance.
  • Model Interpretation: Interpret model coefficients to understand the impact of each marketing channel on sales. Analyze model predictions and compare them to actual sales values for accuracy assessment.
  • Model Deployment: Deploy the trained model to make predictions on new data. Monitor model performance over time and update it as needed to adapt to changing market conditions.