Markov Chain is a probability theory that has been gaining popularity in modeling the likelihood of customer behavior. Monte Carlo Markov Chain (MCMC) is a particularly useful variation in marketing and finance problems involving a probability analysis of data, especially when machine learning is a factor in delivering a solution. In this presentation, attendees will learn about creating a Monte Carlo Markov Chain model using R programming libraries. Attendees will learn the best use cases to apply these techniques for marketing and financial data models.

This session is meant for developers using R with an interest in statistical data models or machine learning. The session will cover a few basic data type concepts, thus having prior experience with R or data science is not necessary.