Bank Fixed Term Deposit analysis using Bayesian Logistic Regression

Marketing is the biggest aspect of any business. Proper analysis on marketing strategies can help expand and improve a business up another notch. Direct marketing campaigns are direct interactions with the particular client base for achieving a particular business objective. Distant clients can also be targeted with proper use of available communication channels like telephones, social media marketing, and any kind of digital marketing. Every sector needs marketing to let people know about their product or service. The Banking sector is also one of these and marketing analysis is of utmost importance when it comes to loan sanctioning, insurance policies or even fixed deposits. Banks target different customers based on several distinct factors which also include their past transactions. This study aims at analyzing Bank Fixed Term Deposit sanctioning by using Bayesian Logistic Regression. Only after a thorough analysis, a person is considered as a potential customer for loan or insurance. The amount might still differ for different customers based on their transaction history and loyalty i.e., timely payback of the loans provided. All these factors affect the customer’s chance of getting a loan or fixed deposit or even an insurance.