This notebook describes probability distributions often used in simulation modeling, demonstrates how to generate random variables from these distributions, and visualizes the distributions through their density functions and histograms from sampled data.
In this Project, we will be introducing eight basic techniques that can be applied to most of the data sets that you will encounter. Our goal is to transform extremely messy data into less messy data.
In this Project, we focus on RFM (Recency, Frequency, and Monetary value) analysis. This type of analysis is used when historical data for existing customers are available.