Implementing Neural Networks For Decision Support In Direct Marketing
Geng Cui and Man Leung Wong Lingnan University, Hong Kong
Introduction
Modelling consumer responses is critical for direct marketing operations to increase sales, reduce cost and augment profitability. Researchers have developed various methods to model consumer responses to direct marketing. A common approach is to use logistic regression to classify consumers based on their probability to purchase from a specific promotion (Berger & Magliozzi 1992). Given the tremendous growth of direct marketing in recent years, accurate prediction of consumer responses to direct marketing has become...