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Students will develop a DM solution for saving the cost of a direct marketing campaign by reducing false positive (wasted call) and false negative (missed customer) decisions. Working on this assignment, students can consider the following scenario. A Bank has decided to save the cost of a direct marketing campaign based on phone calls offering a product to a client. A cost efficient solution is expected to support the campaign with predictions for a given client profile whether the client buys the product or not. Examples of cost-efficient DM solutions for direct marketing are provided on the UCI Machine Learning repository describing a Bank Marketing problem
Task Students will develop a DM solution for saving the cost of a direct marketing campaign by reducing false positive (wasted call) and false…