The fundamental output of a Marketing Mix Modeling project is based on the Model. During the Modeling phase, the analytics team needs to dive deeply into the statistical details and specifications to make sure that the overall model is robust and ready to be shared with the stakeholders.
Model selection is a procedure to estimate regression models in which the choice of predictive variables is carried out by a defined procedure.
Learn how to select your model using the stepwise procedure and genetic algorithms.
Episode 6b outline:
0:00 Previous Course
1:10 Selecting the Best Regression Equation
1:57 Stepwise Procedure
3:19 Genetic Algorithms
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