Description
We have talked about lift charts several times in the course. Describe what lift charts tell us. How is a lift chart constructed? In your own words, how does a lift chart really work?
Explanation & Answer
Attached.
Lift Charts
Outline
1. What Lift Charts tells us
2. How a Lift Chart is constructed
3. How a Lift Works
4. References
Running head: LIFT CHARTS
1
Lift Charts
Name
Institutional Affiliation
LIFT CHARTS
2
Lift Charts
What Lift Charts tells us
It graphically shows the enhancement that a mining model offers when likened to an
arbitrary guess. It, therefore, measures change using lift scores. In most cases, through evaluating
these score with different models, the researcher is able to determine which model is suitable and
the most effective to use. The researcher can equally establish the points at which the model’s
forecasts are less beneficial (Vuk & Curk, 2006). For instance, when going through these charts,
a marketing manager of a company can recognize that a particular marketing crusade would be
likely effective against only 30 percent of the company’s customers while u...
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