Data Science for Marketing Analytics

Chapter 6

Other Regression Techniques and Tools for Evaluation

Learning Objectives

By the end of this chapter, you will be able to:

• Calculate mean absolute error and root mean squared error, which are common measures of the accuracy of a regression model
• Use evaluation metrics or lasso regression to perform feature selection for linear models
• Use tree-based regression models (regression trees and random forest regression)
• Compare the accuracy of different regression models

This chapter covers other regression techniques such as lasso regression, and explains how to evaluate various regression models using common measures of accuracy.

Introduction

In the previous chapter, we learned how to prepare data for regression modeling. We also ...