The following dataset is an IBM Watson Customer Lifetime Value dataset obtained from Kaggle. It contains a
Question:
The following dataset is an IBM Watson Customer Lifetime Value dataset obtained from Kaggle. It contains a sample of an internal database from an insurance company. The dataset contains detailed customer profile data, service (policy) customers purchased, vehicle information, claim information, and whether customers responded to a recent promotion. The additional information/attachment/tables/figures that is related to the question -are to be retrieved from: https://www.kaggle.com/pankajjsh06/ibm-watson-marketing-customer-value-data (please retrieve data from this link as the file cannot be uploaded here - it will take you directly to the download).
Use the data set for this assignment. Note - For sav files - Launch SPSS.
For this data analysis activity, the insurance company is analyzing the total claim amount to understand how customer profiles affect their claim behavior. The company wants to study whether income, number of policies, types of policies, coverage of policy, gender and marital status would affect the customer's total claim amount.
For each nominal/ordinal scaled variable, you should independently decideone group as baseline group and create the dummy variables for the other groups defined by this nominal/ordinal scaled variable.
Next, use SPSS to conduct necessary analysis.
- Summarize the analysis results.
- Based on your analysis results, how would you make recommendations to the management?
- Compare with analysis results of M3 Data Analysis Activity: T Test and ANOVA Test and M4 Data Analysis Activity: Linear Regression. Do you see any changes in the analysis results? Why?
- Are there any other factors you would like to add to your analysis? Why?
- Paste the screenshots of the SPSS outputs for linear regression.