In this chapter, we discussed the overall trends in marketing and learned the rising importance of data science and machine learning in the marketing industry. As the amount of data increases and as we observe the benefits of utilizing data science and machine learning for marketing, companies of all sizes are investing in building more data-driven and quantitative marketing strategies.
We also learned different types of analysis methods, especially the three types of analysis that we will be using frequently in this book—descriptive, explanatory, and predictive —and different use cases of these analyses. In this chapter, we covered different types of machine learning algorithms, as well as the typical workflow in data science. Lastly, we spent some time setting up our development environments in Python and R and testing our environment setup by building...
