This recipe provides a quick guide as to why precision and recall are important metrics for marketers when dealing with a classification problem such as identifying key customers for building audiences.
Marketers are increasingly using machine learning to predict user behavior. Some of their most common goals are: identifying high-value customers, finding lookalike (prospects) customers, providing relevant content, and building an overall positive customer experience. In data science, classification modeling is a great approach for identifying key customers. Classification modeling can help answer the question of whether customers fit in one group or another, which is great for segmenting and audience building. Examples of classification problems include: