English, Article, Journal or magazine article edition: Data Augmentation by Predicting Spending Pleasure Using Commercially Available External Data P. BAECKE; D. VAN DEN POEL

User activity

Share to:
 
Bookmark: http://trove.nla.gov.au/version/22184
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Data Augmentation by Predicting Spending Pleasure Using Commercially Available External Data
Author
  • P. BAECKE
  • D. VAN DEN POEL
Physical Description
  • preprint
Notes
  • Since customer relationship management (CRM) plays an increasingly important role in a company’s marketing strategy, the database of the company can be considered as a valuable asset to compete with others. Consequently, companies constantly try to augment their database through data collection themselves, as well as through the acquisition of commercially available external data. Until now, little research has been done on the usefulness of these commercially available external databases for CRM. This study will present a methodology for such external data vendors based on random forests predictive modeling techniques to create commercial variables that solve the shortcomings of a classic transactional database. Eventually, we predicted spending pleasure variables, a composite measure of purchase behavior and attitude, in 26 product categories for more than 3 million respondents. Enhancing a company’s transactional database with these variables can significantly improve the predictive performance of existing CRM models. This has been demonstrated in a case study with a magazine publisher for which prospects needed to be identified for new customer acquisition.
  • customer relationship management (CRM), data augmentation, commercially available external data, new customer acquisition, random forests, purchase behavior, attitude, spending pleasure
  • RePEc:rug:rugwps:09/​596
Language
  • English
Contributed by
OAIster

Get this edition

Other links

  • Set up My libraries

    How do I set up "My libraries"?

    In order to set up a list of libraries that you have access to, you must first login or sign up. Then set up a personal list of libraries from your profile page by clicking on your user name at the top right of any screen.

  • All (1)
  • Unknown (1)
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.
None of your libraries hold this item.

User activity


e.g. test cricket, Perth (WA), "Parkes, Henry"

Separate different tags with a comma. To include a comma in your tag, surround the tag with double quotes.

Be the first to add a tag for this edition

Be the first to add this to a list

Comments and reviews

What are comments? Add a comment

No user comments or reviews for this version

Add a comment