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Practice paper

Gains: An R package for gains tables and lift charts

Craig A. Rolling
Applied Marketing Analytics: The Peer-Reviewed Journal, 3 (3), 255-263 (2017)
https://doi.org/10.69554/PVBH5704

Abstract

Gains tables and lift charts are commonly used in direct marketing analytics to evaluate the performance of a predictive model on a target sample. A gains table shows how the average (and cumulative average) response values in the sample change with the scores from the predictive model. These numbers can be used to estimate and maximise a model’s effectiveness for direct marketing campaigns. This paper introduces the R package known as ‘gains’: a free, publicly available tool to construct gains tables and lift charts. Instructions for installing and loading the package in R software are provided, and the package’s use is illustrated using real data from an apparel retailer’s e-mail marketing campaign. The use of gains tables raises important questions for model selection, and the paper concludes by discussing future research in this area.

Keywords: direct marketing; machine learning; predictive modelling; R software; return on investment; targeted marketing

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Author's Biography

Craig A. Rolling is Assistant Professor of Biostatistics at Saint Louis University. Previously, he held a faculty position in the Department of Operations and Business Analytics at the University of Oregon. He has analysed customer data for numerous Fortune 500 companies while working at Cogensia, a data-driven marketing analytics consultancy. Dr Rolling has a PhD in statistics from the University of Minnesota and is a member of the American Statistical Association.

Citation

Rolling, Craig A. (2017, August 8). Gains: An R package for gains tables and lift charts. In the Applied Marketing Analytics: The Peer-Reviewed Journal, Volume 3, Issue 3. https://doi.org/10.69554/PVBH5704.

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cover image, Applied Marketing Analytics: The Peer-Reviewed Journal
Applied Marketing Analytics: The Peer-Reviewed Journal
Volume 3 / Issue 3
© Henry Stewart
Publications LLP

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