Model-Based Purchase Predictions for Large Assortments

An accurate prediction of what a customer will purchase next is of paramount importance to successful online retailing. In practice, customer purchase history data is readily available to make such predictions, sometimes complemented with customer characteristics. Given the large product assortments...

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Bibliographic Details
Published in:Marketing science (Providence, R.I.) R.I.), 2016-05, Vol.35 (3), p.389-404
Main Authors: Jacobs, Bruno J.D., Donkers, Bas, Fok, Dennis
Format: Article
Language:English
Subjects:
Analysis
Consumer behavior
Data
Decision making models
Discrete choice
Electronic commerce
Forecasts and trends
Internet
large scale purchase prediction
latent Dirichlet allocation
Mathematical models
mixture of Dirichlet-Multinomials
Mixtures
model-based predictions
Predictions
purchase history data
Purchasing
Retail industry
Retailing
Scalability
Studies
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