Advances in Economics, Management and Political Sciences

- The Open Access Proceedings Series for Conferences


Proceedings of the 7th International Conference on Economic Management and Green Development

Series Vol. 43 , 10 November 2023


Open Access | Article

Machine Learning Insights: Identifying Factors for Successful Bank Telemarketing Campaigns

Yixuan Guan * 1
1 Gannon University

* Author to whom correspondence should be addressed.

Advances in Economics, Management and Political Sciences, Vol. 43, 40-50
Published 10 November 2023. © 2023 The Author(s). Published by EWA Publishing
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Citation Yixuan Guan. Machine Learning Insights: Identifying Factors for Successful Bank Telemarketing Campaigns. AEMPS (2023) Vol. 43: 40-50. DOI: 10.54254/2754-1169/43/20232122.

Abstract

Bank telemarketing campaigns play a pivotal in fostering customer relationships and promoting financial products. However, the factors that contribute to the success of these campaigns are multifaceted and often elusive. This study utilizes a range of machine learning techniques to analyze an extensive dataset of telemarketing campaigns from a Portuguese banking institution, shedding lights on critical determinants of its success. The data underwent the application of several machine learning algorithms, including Decision Trees, Random Forest, Logistic Regression, Gradient Boosting, and Naïve Bayes, facilitating the discovery of notable patterns and correlations. Findings revealed that variables such as age, occupation, seasonality, and the number of phone calls exert significant influence on campaign outcomes. By leveraging these insights, banking institutions and marketing strategists can craft more effective, data-driven telemarketing strategies. This in turn stands to enhance marketing efficacy, customer acquisition, and retention, translating into improved business performance.

Keywords

machine learning, bank telemarketing, marketing strategists

References

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Data Availability

The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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Volume Title
Proceedings of the 7th International Conference on Economic Management and Green Development
ISBN (Print)
978-1-83558-107-0
ISBN (Online)
978-1-83558-108-7
Published Date
10 November 2023
Series
Advances in Economics, Management and Political Sciences
ISSN (Print)
2754-1169
ISSN (Online)
2754-1177
DOI
10.54254/2754-1169/43/20232122
Copyright
© 2023 The Author(s)
Open Access
This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited

Copyright © 2023 EWA Publishing. Unless Otherwise Stated