Exploratory Data Analysis

Get familiar with EDA, statistical properties, and visualizing underlying data relationships.

In this lesson, we’ll perform our EDA on a recency, frequency, and monetary (RFM) value dataset. These are three key metrics used to analyze customer behavior and segment customers based on their purchasing patterns. The RFM dataset is a collection of customer data and their purchasing history commonly used in marketing and retail analytics.

Import libraries and load data

We’re going to import the necessary libraries (pandas, NumPy, and Matplotlib) to help us get familiar with the data. The dataset is preloaded in the course content, and we’ll use it throughout the course.

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import pandas as pd # for dataframe operations
import numpy as np # for vector operations
import matplotlib as mpl # for creating vizualisations
import matplotlib.pyplot as plt # for plotting

A high-quality dataset is essential for successful machine learning tasks. It encompasses key properties like accuracy, reliability, and representativeness. Building a robust, generalized, and unbiased machine learning model heavily relies on the presence of a relevant and precise dataset. A high-quality dataset empowers the model to effectively adapt to new and unseen data, making it applicable in real-world scenarios. Furthermore, it plays a crucial role in mitigating biases, ...