From the course: Predictive Analytics Essential Training for Executives
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
Propensity scores and business problems
From the course: Predictive Analytics Essential Training for Executives
Propensity scores and business problems
- Okay, so let's assume that you build a model that produces a propensity score, but what do you plan on doing with it? As the stakeholder, you will want to think about how to use these scores and what your intervention strategy will be. This is ultimately your responsibility. You might decide directly, or you might delegate it, but it's fundamentally a business decision. You need to reflect on what you will do with high propensity scores that you won't do with low propensity scores. High scores mean that what you're trying to predict is most likely to happen, and low scores mean that the opposite outcome it is very likely to occur. Here's the bottom line. If you are not clear on what you are going to do with the propensity score, then you haven't successfully translated the business problem into something that belongs to the predictive analytics team. It's possible that you have to go back to the drawing board and…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.