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Friday, October 23, 2015

Predicting Consumer Behavior

In the WSJ: Outline of a forthcoming paper.  To which I respond, anyone can predict, but how well and in what context?   " .... “Once we understand the factors affecting consumer behavior, we are then able to predict it,” the researchers reported in their paper, which they will present in February at the International Conference on Web Search and Data Mining in San Francisco. “Given a user’s history of purchases and demographic data, we attempt to predict when the user will make the next purchase, or how much money the user will spend.”

Knowing when shoppers are more likely to make online purchases and how much money they will spend helps merchants target advertising. ... " 

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