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Bank Product Prediction Algorithm

Bank Prediction Algorithm

A Bank is looking to optimize its resources and improve the efficiency of its marketing efforts by identifying potential customers who are more likely to purchase their term deposit products. Term deposits are long-term financial instruments that require customers to invest a fixed sum of money for a specified period, typically offering higher interest rates than regular savings accounts. To maximize returns and reduce marketing costs, the bank aims to develop a predictive model that can identify the most promising customers for their term deposit offerings.The primary objective is to allocate the bank's marketing and sales resources more efficiently, ultimately leading to increased sales and cost savings. The bank has access to historical customer data, including age, job , marital status, education, balance,  housing loan etc.We have developed machine learning model that can predict which customers are likely to purchase term deposit products.

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