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Behaviors and Profit based Sales Campaign Design
Conference proceeding

Behaviors and Profit based Sales Campaign Design

Shukai Li, Xiao-Li Li, Whye Loon Tung, Kelvin Sim and IEEE
2015 IEEE 27TH INTERNATIONAL CONFERENCE ON TOOLS WITH ARTIFICIAL INTELLIGENCE (ICTAI 2015), Vol.2016-, pp.353-360
Proceedings-International Conference on Tools With Artificial Intelligence
01/11/2015

Abstract

Computer Science Computer Science, Artificial Intelligence Computer Science, Theory & Methods Science & Technology Technology
In this paper, we propose a novel profit-based metric for pattern mining. The objective is for companies to maximize their profits by offering the correct assortment of products with high margins in marketing campaigns. Based on the proposed metric, a sales campaign can accurately target/recommend the products that will translate to higher profits for a company to its customers. Moreover, if a sales campaign also considers consumer behaviour like what time consumers want what kinds of products, it can achieve better recommendations that not only benefit the company financially but also increase the satisfaction level of the customers. In addition, we analyze different groups of customers through a segmentation analysis to help a company target customers with significant upside potential. This research seeks to improve the marketing decision-making process to launch effective sales campaigns to target high-value customers.

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