International Marketing and Purchasing of Industrial Goods

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International Marketing and Purchasing of Industrial Goods

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In direct marketing, only a limited number of all potential customers will be selected for the direct promotion. As a result, the classification model is required to rank customers by how likely they belong to the class initiating the contact. Exactly how many will be selected in order to achieve the highest net profit depends on the performance of the model. For this reason, a classifier adopted for direct marketing should not only classify, but also classify with a confidence measurement for ranking observations. Most supervised learning algorithms are capable of such ranking or can be easily modified to...

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