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You're reading from  Data Science for Marketing Analytics - Second Edition

Product typeBook
Published inSep 2021
Reading LevelIntermediate
PublisherPackt
ISBN-139781800560475
Edition2nd Edition
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Authors (3):
Mirza Rahim Baig
Mirza Rahim Baig
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Mirza Rahim Baig

Mirza Rahim Baig is a Data Science and Artificial Intelligence leader with over 13 years of experience across e-commerce, healthcare, and marketing. He currently holds the position of leading Product Analytics at Marketing Services for Zalando, Europe's largest online fashion platform. In addition, he serves as a Subject Matter Expert and faculty member for MS level programs at prominent Ed-Tech platforms and institutes in India. He is also the lead author of two books, 'Data Science for Marketing Analytics' and 'The Deep Learning Workshop,' both published by Packt. He is recognized as a thought leader in my field and frequently participates as a guest speaker at various forums.
Read more about Mirza Rahim Baig

Gururajan Govindan
Gururajan Govindan
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Gururajan Govindan

Gururajan Govindan is a data scientist, intrapreneur, and trainer with more than seven years of experience working across domains such as finance and insurance. He is also an author of The Data Analysis Workshop, a book focusing on data analytics. He is well known for his expertise in data-driven decision-making and machine learning with Python.
Read more about Gururajan Govindan

Vishwesh Ravi Shrimali
Vishwesh Ravi Shrimali
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Vishwesh Ravi Shrimali

Vishwesh Ravi Shrimali graduated from BITS Pilani, where he studied mechanical engineering, in 2018. He also completed his Masters in Machine Learning and AI from LJMU in 2021. He has authored - Machine learning for OpenCV (2nd edition), Computer Vision Workshop and Data Science for Marketing Analytics (2nd edition) by Packt. When he is not writing blogs or working on projects, he likes to go on long walks or play his acoustic guitar.
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Performance Metrics

The performance metrics in the case of multiclass classification would be the same as what you used for binary classification in the previous chapter, that is, precision, recall, and F1 score, obtained using a confusion matrix.

In the case of a multiclass classification problem, you average out the metrics to find the micro-average or macro-average of precision, recall, and F1 score in a k-class system, where k is the number of classes. Averaging is useful in the case of multiclass classification since you have multiple class labels. This is because each classifier is going to give one class as the prediction; however, in the end, you are just looking for one class. In such cases, an aggregation such as averaging helps in getting the final output.

The macro-average computes the metrics such as precision (PRE), recall (Recall), or F1 score (F1) of each class independently and takes the average (all the classes are treated equally):

Figure 9.4: The macro...

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Data Science for Marketing Analytics - Second Edition
Published in: Sep 2021Publisher: PacktISBN-13: 9781800560475

Authors (3)

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Mirza Rahim Baig

Mirza Rahim Baig is a Data Science and Artificial Intelligence leader with over 13 years of experience across e-commerce, healthcare, and marketing. He currently holds the position of leading Product Analytics at Marketing Services for Zalando, Europe's largest online fashion platform. In addition, he serves as a Subject Matter Expert and faculty member for MS level programs at prominent Ed-Tech platforms and institutes in India. He is also the lead author of two books, 'Data Science for Marketing Analytics' and 'The Deep Learning Workshop,' both published by Packt. He is recognized as a thought leader in my field and frequently participates as a guest speaker at various forums.
Read more about Mirza Rahim Baig

author image
Gururajan Govindan

Gururajan Govindan is a data scientist, intrapreneur, and trainer with more than seven years of experience working across domains such as finance and insurance. He is also an author of The Data Analysis Workshop, a book focusing on data analytics. He is well known for his expertise in data-driven decision-making and machine learning with Python.
Read more about Gururajan Govindan

author image
Vishwesh Ravi Shrimali

Vishwesh Ravi Shrimali graduated from BITS Pilani, where he studied mechanical engineering, in 2018. He also completed his Masters in Machine Learning and AI from LJMU in 2021. He has authored - Machine learning for OpenCV (2nd edition), Computer Vision Workshop and Data Science for Marketing Analytics (2nd edition) by Packt. When he is not writing blogs or working on projects, he likes to go on long walks or play his acoustic guitar.
Read more about Vishwesh Ravi Shrimali