Chapter 4. Use AutoML to Predict Advertising Media Channel Sales
In this chapter, you build an AutoML model to predict advertising media channel sales. First, you explore your data using Pandas. Then you learn how to use AutoML to build, train, and deploy an ML model to predict sales. You gain an overall understanding of the performance of your model using performance metrics and answer common business questions. Along the way, you’ll learn about regression analysis, a common technique used for prediction use cases.
The Business Use Case: Media Channel Sales Prediction
Businesses use advertising media channels to promote their products, services, or brand. Marketers and media planners create marketing campaigns that may run on digital, TV, radio, or in the newspaper. In this scenario, you work as a media planner in the marketing department for a midsize solar energy company. Your firm has a modest media budget and needs to evaluate which channels offer the greatest number of benefits for the least cost. This is a spend optimization problem.
You have been asked to develop a marketing plan that will increase next year’s product sales. To accomplish this goal, you need to understand the impact of the media channel product advertising budgets on overall sales. The advertising dataset captures the sales revenue generated with respect to advertisement costs across digital, TV, radio, and newspaper media channels.
Typically, this type of ask from the team lead would go to a data scientist ...