Boosting Sales with Machine Learning

Re:Boosting Sales with Machine Learning by mrborgen on Wednesday June 08, 2016 @08:49AM (#11861854)

2000 samples is what we needed to get going yes. We're also noticing variable accuracy on different real world dataset. Meaning the algorithm is biased towards our current dataset.

Getting more data is one of our top priorities going forward with this project.

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Re:Boosting Sales with Machine Learning by stygiansonic on Wednesday June 08, 2016 @09:43AM (#11862207)

A follow-up question: In your experience, what's the cost difference between:

1) Mis-identifying a lead as a non-lead.

2) Mis-identifying a non-lead as a lead.

I would guess that (1) would be more costly if non-leads go to somewhere where they aren't followed-up on. But I'd appreciate the insight.

Thanks again!

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Re:Boosting Sales with Machine Learning by chipsanddip on Wednesday June 08, 2016 @10:20AM (#11862421)

Hi, as Per that wrote this is a developer while I do the sales that come out of this, I'll answer this:

Mis-identifying a lead as a non-lead is potentially loosing out on a big deal that can make or break your company. You never know what email will lead to a quickly closed $30k ARR sale, which are golden for any SaaS startup.

The reverse has almost no consequences unless you're really going to town with the emailing and end up being flagged for spam. Usually people just ignore you (not so smart) or write back that it's not relevant.

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Re:Boosting Sales with Machine Learning by mrborgen on Wednesday June 08, 2016 @10:37AM (#11862537)

Your assumption is right, in terms of business cost, we'd rather see a false positive than a false negative.

I don't think the scikit learn algorithm differentiates between the two types of errors, in terms of cost.

Though it seems to give less false negatives than false positives overall, when testing on new datasets.

I'll put in the f1 score in the article when I have time.

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Re:Boosting Sales with Machine Learning by SixSigma on Wednesday June 08, 2016 @04:26PM (#11865364)

Here's a whole post on that subject (or it might be Part 1 :)

http://blog.mldb.ai/blog/posts/2016/04/ml-meets-economics2/

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Re:Boosting Sales with Machine Learning by Lanzaa on Thursday June 09, 2016 @01:52PM (#11871044)

This is exactly the link I was going to post. I think it does a great job showing that accuracy is not always the most appropriate metric for a model.

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