Big data recommender system for encouraging purchases in new places taking into account demographics

Hugo Alatrista-Salas, Isaías Hoyos, Ana Luna, Miguel Nunez-del-Prado

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

Abstract

Recommendation systems have gained popularity in recent years. Among them, the best known are those that select products in stores, movies, videos, music, books, among others. The companies, and in particular, the banking entities are the most interested in implementing these types of techniques to maximize the purchases of potential clients. For this, it is necessary to process a large amount of historical data of the users and convert them into useful information that allows predicting the products of interest for the user and the company. In this article, we analyze two essential problems when using systems, one of which is to suggest products of one commerce to those who have never visited that place, and the second is how to prioritize the order in which users buy certain products or services. To confront these drawbacks, we propose a process that combines two models: latent factor and demographic similarity. To test our proposal, we have used a database with approximately 65 million banking transactions. We validate our methodology, achieving an increase in the average consumption in the selected sample.
Original languageEnglish
Title of host publicationInformation Management and Big Data - 6th International Conference, SIMBig 2019, Proceedings
EditorsJuan Antonio Lossio-Ventura, Nelly Condori-Fernandez, Jorge Carlos Valverde-Rebaza
PublisherSpringer
Pages115-128
Number of pages14
ISBN (Electronic)978-3-030-46140-9
ISBN (Print)978-3-030-46139-3
DOIs
StatePublished - 23 Apr 2020
EventCommunications in Computer and Information Science -
Duration: 1 Jan 2020 → …

Publication series

NameCommunications in Computer and Information Science
Volume1070 CCIS
ISSN (Print)1865-0929

Conference

ConferenceCommunications in Computer and Information Science
Period1/01/20 → …

Bibliographical note

Publisher Copyright:
© Springer Nature Switzerland AG 2020.

Keywords

  • Consumption patterns
  • Demographic vector
  • Latent factor
  • Recommender system

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