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Hands-On Data Science for Marketing

You're reading from   Hands-On Data Science for Marketing Improve your marketing strategies with machine learning using Python and R

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Product type Paperback
Published in Mar 2019
Publisher Packt
ISBN-13 9781789346343
Length 464 pages
Edition 1st Edition
Languages
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Author (1):
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Yoon Hyup Hwang Yoon Hyup Hwang
Author Profile Icon Yoon Hyup Hwang
Yoon Hyup Hwang
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Table of Contents (20) Chapters Close

Preface 1. Section 1: Introduction and Environment Setup
2. Data Science and Marketing FREE CHAPTER 3. Section 2: Descriptive Versus Explanatory Analysis
4. Key Performance Indicators and Visualizations 5. Drivers behind Marketing Engagement 6. From Engagement to Conversion 7. Section 3: Product Visibility and Marketing
8. Product Analytics 9. Recommending the Right Products 10. Section 4: Personalized Marketing
11. Exploratory Analysis for Customer Behavior 12. Predicting the Likelihood of Marketing Engagement 13. Customer Lifetime Value 14. Data-Driven Customer Segmentation 15. Retaining Customers 16. Section 5: Better Decision Making
17. A/B Testing for Better Marketing Strategy 18. What's Next? 19. Other Books You May Enjoy

A/B testing for marketing

A/B testing plays a critical role in decision-making processes across various industries. A/B testing is essentially a method of comparing and testing the effectiveness and benefits of two different business strategies. It can be considered as an experiment where two or more variants are tested for a set period of time and then the experiment results are evaluated to find the strategy that works best. Running A/B testing before fully committing to a single option helps businesses take the guesswork out of their decision-making processes and saves valuable resources, such as time and capital, that could have been wasted if the chosen strategy did not work.

In a typical A/B testing setting, you would create and test two or more versions of marketing strategies for their effectiveness in achieving your marketing goal. Consider a case where your goal is to...

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