Consider that a bank approaches you to develop a machine learning application that will help them in identifying the potential clients who would open a Term Deposit (also called Fixed Deposit by some banks) with them. The bank regularly conducts a survey by means of telephonic calls or web forms to collect information about the potential clients. The survey is general in nature and is conducted over a very large audience out of which many may not be interested in dealing with this bank itself. Out of the rest, only a few may be interested in opening a Term Deposit. Others may be interested in other facilities offered by the bank. So the survey is not necessarily conducted for identifying the customers opening TDs. Your task is to identify all those customers with high probability of opening TD from the humongous survey data that the bank is going to share with you.
Fortunately, one such kind of data is publicly available for those aspiring to develop machine learning models. This data was prepared by some students at UC Irvine with external funding. The database is available as a part of UCI Machine Learning Repository and is widely used by students, educators, and researchers all over the world. The data can be downloaded from here.
In the next chapters, let us now perform the application development using the same data.