Economics is the study of resource allocation. This chapter describes the use of machine learning techniques to optimize resource allocation for marketing use-cases, such as digital advertising and customer segmentation. A range of techniques are described, including supervised classification, unsupervised learning, and reinforcement learning. Results from academic literature are used to show their success when applied to the domain of marketing. Furthermore, practical considerations for the wider deployment of these algorithms in non-research settings are discussed.

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Solving Economic Problems in Marketing with AI

  • Sarah Yu

摘要

Economics is the study of resource allocation. This chapter describes the use of machine learning techniques to optimize resource allocation for marketing use-cases, such as digital advertising and customer segmentation. A range of techniques are described, including supervised classification, unsupervised learning, and reinforcement learning. Results from academic literature are used to show their success when applied to the domain of marketing. Furthermore, practical considerations for the wider deployment of these algorithms in non-research settings are discussed.