ankurdhuriya / customer-value-analysis-in-insurance-marketing

A Data science project with the main aim of doing some Descriptive and Exploratory Data Analysis.

Insurance Marketing Customer Value Analysis

A Data science project with the main aim of doing some Descriptive and Exploratory Data Analysis and then applying predictive modelling for predicting the customer life time value (CLV) for an Auto Insurance company.

Technique Used

I have used Linear Regression Modelling Technique to solve this problem.

Suggested Approach

1. Understand the variables in the data set and study about the Industry.
2. Create hypothesis and validate.
3. Identify the statistical model to use (compare pros / cons of different models before accepting a model to follow)
4. Clean the data set.
5. Divide the data set into two parts: - Development Sample & Validation Sample.
6. Run Regression model.
7. Check which variables are significant by looking at p values and business reasons?
8. Do different tests like multicollinearity test, Homoscedasticity test, Normality test, MAPE.