Introduction A common practice to enhance and stimulate business growth is using mar- keting campaigns. Marketing campaigns come in many different forms, ranging from acquisition marketing campaigns to social media marketing campaigns. A common and widely used marketing campaign is the telemarketing strategy that banks oftentimes utilize due to the complex nature of financial products that require more nuanced explanations. However, telemarketing campaigns are demanding in terms of time, effort and resources needed. Therefore, it is of big significance to determine what factors associated with telemarketing, and/or otherwise, affect whether a client purchases financial products or not.
The aim of this project is to analyze the dataset, identify trends and build models that can determine whether a client purchases a long-term deposit based on factors such as gender, age, occupation, previous loans, previous campaign interactions, etc. For example, we are interested in identifying the duration of telemarketing calls that yield the most positive results. Which day of the week and which month should be focused on for a higher chance of success? Does it make a difference whether clients are called on their cellphone or on their telephone? Does the job or education of a client significantly affect their decision?
The dataset contains data from a Portuguese commercial bank that details various bank-client relationship information. Using this information, we generated models to predict the outcome of purchase decisions of clients.