Unlocking Customer Insights: Analyzing Factors Influencing Term Deposit Subscriptions in the Banking Industry

This chaptere explores the intricate factors influencing term deposit subscriptions in the banking industry. It begins with an introduction to term deposits, highlighting their importance in personal finance and wealth management. The analysis delves into customer demographics, economic indicators, and historical subscription data to uncover valuable insights. The chaptere also discusses the role of digital behavior and the synergy between online and offline marketing channels in promoting term deposit products. The proposed system integrates logistic regression and decision trees to predict customer subscription behavior, with a focus on data preparation, model building, and feature selection. The results reveal significant patterns, such as the higher likelihood of retirees and students subscribing to term deposits, and the importance of targeting a broad spectrum of age groups. The chaptere concludes with a comprehensive analysis of various papers on term deposit prediction, highlighting the efficacy of machine learning techniques and the need for future research to address challenges like class imbalances and model generalization.