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Analyzing joint brand purchases by conditional restricted Boltzmann machines
Hruschka, Harald
(2021)
Analyzing joint brand purchases by conditional restricted Boltzmann machines.
Review of Managerial Science 16, S. 1117-1145.
Veröffentlichungsdatum dieses Volltextes: 15 Jun 2021 05:11
Artikel
DOI zum Zitieren dieses Dokuments: 10.5283/epub.45991
Zusammenfassung
We introduce the conditional restricted Boltzmann machine as method to analyze brand-level market basket data of individual households. The conditional restricted Boltzmann machine includes marketing variables and household attributes as independent variables. To our knowledge this is the first study comparing the conditional restricted Boltzmann machine to homogeneous and heterogeneous ...
We introduce the conditional restricted Boltzmann machine as method to analyze brand-level market basket data of individual households. The conditional restricted Boltzmann machine includes marketing variables and household attributes as independent variables. To our knowledge this is the first study comparing the conditional restricted Boltzmann machine to homogeneous and heterogeneous multivariate logit models for brand-level market basket data across several product categories. We explain how to estimate the conditional restricted Boltzmann machine starting from a restricted Boltzmann machine without independent variables. The conditional restricted Boltzmann machine turns out to excel all the other investigated models in terms of log pseudo-likelihood for holdout data. We interpret the selected conditional restricted Boltzmann machine based on coefficients linking purchases to hidden variables, interdependences between brand pairs as well as own and cross effects of marketing variables. The conditional restricted Boltzmann machine indicates pairwise relationships between brands that are more varied than those of the multivariate logit model are. Based on the pairwise interdependences inferred from the restricted Boltzmann machine we determine the competitive structure of brands by means of cluster analysis. Using counterfactual simulations, we investigate what three different models (independent logit, heterogeneous multivariate logit, conditional restricted Boltzmann machine) imply with respect to the retailer’s revenue if each brand is put on display. Finally, we mention possibilities for further research, such as applying the conditional restricted Boltzmann machine to other areas in marketing or retailing.
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Details
| Dokumentenart | Artikel | ||||
| Titel eines Journals oder einer Zeitschrift | Review of Managerial Science | ||||
| Verlag: | Springer | ||||
|---|---|---|---|---|---|
| Band: | 16 | ||||
| Seitenbereich: | S. 1117-1145 | ||||
| Datum | 10 Juni 2021 | ||||
| Institutionen | Wirtschaftswissenschaften > Institut für Betriebswirtschaftslehre > Lehrstuhl für Marketing (Prof. Dr. Harald Hruschka) | ||||
| Identifikationsnummer |
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| Stichwörter / Keywords | Marketing, Retailing, Market basket analysis, machine Learning, Restricted Boltzmann machine, Multivariate logit model | ||||
| Dewey-Dezimal-Klassifikation | 300 Sozialwissenschaften > 330 Wirtschaft | ||||
| Status | Veröffentlicht | ||||
| Begutachtet | Ja, diese Version wurde begutachtet | ||||
| An der Universität Regensburg entstanden | Ja | ||||
| URN der UB Regensburg | urn:nbn:de:bvb:355-epub-459916 | ||||
| Dokumenten-ID | 45991 |
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