Term deposits are a major source of income for a bank. A term deposit is a cash investment held at a financial institution. Your money is invested for an agreed rate of interest over a fixed amount of time, or term. The bank has various outreach plans to sell term deposits to their customers such as email marketing, advertisements, telephonic marketing, and digital marketing.
Telephonic marketing campaigns still remain one of the most effective way to reach out to people. However, they require huge investment as large call centers are hired to actually execute these campaigns. Hence, it is crucial to identify the customers most likely to convert beforehand so that they can be specifically targeted via call.
The data is related to direct marketing campaigns (phone calls) of a Portuguese banking institution. The classification goal is to predict if the client will subscribe to a term deposit (variable y).
- This dataset is publicly available for research. It has been picked up from the UCI Machine Learning with random sampling and a few additional columns.
- Please add this citation if you use this dataset for any further analysis.
- S. Moro, P. Cortez and P. Rita. A Data-Driven Approach to Predict the Success of Bank Telemarketing. Decision Support Systems, Elsevier, 62:22-31, June 2014
The full dataset was described and analyzed in:
- S. Moro, R. Laureano and P. Cortez. Using Data Mining for Bank Direct Marketing: An Application of the CRISP-DM Methodology.
- In P. Novais et al. (Eds.), Proceedings of the European Simulation and Modelling Conference - ESM'2011, pp. 117-121, Guimarães, Portugal, October, 2011. EUROSIS.