Machine Learning Approaches for Marketing Campaign in Portuguese Banks

Abstract

Bank is a type of business that deals with saving, circulation of money, deposits and others. The number of services provided by banks is very diverse, this depends on the capabilities of each bank. The more capable and better the bank is, the more services it will offer. Introducing the product directly has been commonly used for various industries, one of them is the banking industry. In directly introducing products, banks can conduct market analysis by utilizing the information technology space that can assist in making decisions. By analyzing bank marketing data, it can be used to select the type of marketing to do. Marketing campaigns can be carried out via email, telephone, and direct email to prospective customers that allow potential customers to decide whether to take the product offered or not. With increasing time, the amount of incoming data continues to grow. With this increasing data, one of the bank institutions found it difficult to predict whether their clients would subscribe to a term deposit or not. Therefore, in this paper, the data mining process will be carried out using classification (Decision Tree, Naïve Bayes, and Random Forest) and clustering (K-Means, K-Medoids, and DBSCAN) methods to predict if the client will subscribe a term deposit.

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