Which types of application one can prefer to use Bagging and boosting methods for predictive analytics and how it can be used?
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A: Below is the solution:-
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Which types of application one can prefer to use Bagging and boosting methods for predictive analytics and how it can be used?
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- Under what conditions might a firm use multiple forecasting methods?Provide an explanation of the operation of predictive analytics and a practical application of the method.To carry out their analysis, planning, implementation, and control responsibilities, marketing managers need a marketing information system (MIS) to assess information needs, develop the needed information, and distribute it in a timely manner. Assume that you are a Marketing Manager of Foodpanda and your company wants you to deploy an efficient Marketing information system. Explain how marketing intelligence will help Foodpanda in collecting information and forecasting demand?
- Is there a difference between forecasting demand and forecasting sales? Can demand be forecast from historical sales data?What is the role of distributed data warehousing in business intelligence and analytics? Provide examples of distributed data warehousing solutions.To carry out their analysis, planning, implementation, and control responsibilities, marketing managers need a marketing information system (MIS) to assess information needs, develop the needed information, and distribute it in a timely manner. Assume that you are a Marketing Manager of Khaddi and your company wants you to deploy an efficient Marketing information system. Explain how all the components of the Marketing Information system will help Khaadi in collecting information and forecasting demand?
- How can businesses use predictive analytics within their CRM systems to forecast customer behavior and optimize their marketing and sales strategies? Provide a detailed explanation.Either using descriptive or prescriptive models is beneficial; however, which one is more effective?How can predictive analytics be applied in marketing to forecast customer behavior?
- As a Sales Head for a consumer durable firm, you wish to have sales forecast trends based on past sales rendered. Briefly describe the methods of forecasting future demand on the basis of past sales.What are some of the most common methods of market forecasting ?In the context of CRM, what is the significance of predictive analytics, and how does it aid in making data-driven decisions for customer engagement and retention?