Purchase Timing Prediction by Mining Consumer Decision-Making Process

  • 張 漢斌

Student thesis: Master's Thesis

Abstract

With the advances of the e-commerce service in recent years the recommender system has received lots of attention While there are many researchers being interested in this area most of them only focused on the problem of “what will consumers buy” However doing the right thing is not enough Only by doing it at the right moment can we make it right As a key to improving the performance of the entire recommender system “when will consumers buy” has received a few attention but few of them tried to solve it by analyzing consumers’ psychological decision-making process This research proposes a novel two-stage framework that can effectively predict the purchase timing by mining the consumer decision-making process In the first stage according to the diffusion of innovation theory that is widely adopted in the marketing science we would categorize consumers into different groups The categorization is decided by the phase of product life cycle at which consumers’ first effective login happen Since consumers of different characteristics and consuming habits would be categorized into corresponding groups the final model can be more representative and the predicted timing would be more accurate Then the second stage starts to mine the activity logs of each group Quantifying the effects of explanatory features on purchase timing is the core target of this stage We utilize the survival analysis which has been widely used in the medical science to produce the survival function of purchase actions and predict the purchase timing As far as we are concerned in the area of purchase timing prediction this research is the first one that takes both diffusion of innovation theory and consumer decision-making process into consideration as well as exploits the survival analysis to analyze the decision-making process Based on the real e-commerce data provided by the YooChoose we simulated some necessary features and the purchase timing We conducted a series of experiments on that semi-simulated data and the evaluation results showed that our proposed framework is able to predict consumers’ purchase timing effectively
Date of Award2015 Aug 6
Original languageEnglish
SupervisorSun-Yuan Hsieh (Supervisor)

Cite this

Purchase Timing Prediction by Mining Consumer Decision-Making Process
漢斌, 張. (Author). 2015 Aug 6

Student thesis: Master's Thesis