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You're reading from  Practical Machine Learning Cookbook

Product typeBook
Published inApr 2017
Reading LevelIntermediate
PublisherPackt
ISBN-139781785280511
Edition1st Edition
Languages
Python
Tools
Apache Spark
Concepts
Machine Learning
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Author (1)
Atul Tripathi
Atul Tripathi
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Atul Tripathi

Atul Tripathi has spent more than 11 years in the fields of machine learning and quantitative finance. He has a total of 14 years of experience in software development and research. He has worked on advanced machine learning techniques, such as neural networks and Markov models. While working on these techniques, he has solved problems related to image processing, telecommunications, human speech recognition, and natural language processing. He has also developed tools for text mining using neural networks. In the field of quantitative finance, he has developed models for Value at Risk, Extreme Value Theorem, Option Pricing, and Energy Derivatives using Monte Carlo simulation techniques.
Read more about Atul Tripathi

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Markov chains - the multi-channel attribution model

A customer's journey undergoes a path of different channels before a purchase on an e-commerce website. Multi-channel attribution assigns a value to each step in the journey. The question is how one can identify the value in the actions people take on your website that lead to a conversion. Commonly, businesses use "last click" attribution, which means assigning all the conversion value to the last step in the journey or "first click" attribution. The first step in developing multi-channel attribution analytics is to understand the customer's journey - from awareness through purchase to after-purchase support. The ultimate goal is to develop loyal customers who spend a significant money on purchases, recommend the brand to others, and it potentially becomes a brand.

Getting ready

In order to perform a Markov chains multi-channel attribution model we shall be simulating customer journeys containing three unique channels.

How to do it...

Let...

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Practical Machine Learning Cookbook
Published in: Apr 2017Publisher: PacktISBN-13: 9781785280511
© 2017 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Atul Tripathi

Atul Tripathi has spent more than 11 years in the fields of machine learning and quantitative finance. He has a total of 14 years of experience in software development and research. He has worked on advanced machine learning techniques, such as neural networks and Markov models. While working on these techniques, he has solved problems related to image processing, telecommunications, human speech recognition, and natural language processing. He has also developed tools for text mining using neural networks. In the field of quantitative finance, he has developed models for Value at Risk, Extreme Value Theorem, Option Pricing, and Energy Derivatives using Monte Carlo simulation techniques.
Read more about Atul Tripathi

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