Consumer behavior clustering of food retail chains by machine learning algorithms
Journal Title: ACCESS: Access to science, business, innovation in the digital economy - Year 2021, Vol 2, Issue 3
Abstract
Analysis of the behavior of an economic agent is one of the central themes of microeconomics. Right now, with the comprehensive increase in the amount of data and the expansion of the computing capabilities of personal computers, there is a need to implement methods of behavioral economics in the study of human behavior. In the course of this study, a survey was created aimed at identification of patterns of behavior of the modern consumer according to his selection criteria stores and reactions to questions based on Behavioral Economics theorems. Clustering the obtained results were performed using machine learning algorithms, after which the Random Forest classification algorithm was trained. According to the results of Silhouette analysis, K-means clusters were selected as the main ones for further modeling. T-SNE algorithms, hierarchical and spectral analysis were used for additional visual representation. This study offers a tool for classifying customer preferences and analyzing current industry trends. A tool has been created to classify consumers of food retail chains in order to improve their "buyer's journey" and better understand their needs. The created tool for clustering and classification by machine learning methods can be used in business processes. To improve the result, it is necessary to choose a more representative sample, because used in this study consists of an average rationally thinking and knowledgeable individuals, which cannot be said of the average consumer not only among the older generation but also among the younger. Therefore, the next directions in the study may be to identify new ones behavioral trends in other industries; deepening understanding of food retail; use of geodata to improve analysis, etc. Potentially attractive the direction may be to add an assessment of the impact of network advertising on behavior consumers through semantics analysis and image recognition
Authors and Affiliations
Olena LIASHENKO, Tetyana KRAVETS, Matvii PROKOPENKO
Keywords
Related Articles
- EP ID EP696895
- DOI https://doi.org/10.46656/access.2021.2.3(3)
- Views 152
- Downloads 0
CULTURAL TOURISM DEVELOPMENT IN THE TOWN OF BYALA - OPPORTUNITIES FOR INNOVATION
This article aims to examine the opportunities for innovations in the development of cultural tourism in the town of Byala. The study focuses on five cultural heritage sites categorized as cultural values of national sig...
Developing hybrid recommendation systems: Ukrainian dimension
The lack of a consistent strategy to product recommendations, as well as the range of effective techniques to offering suggestions, are reflected in the variety of current recommendation systems. The study presents the o...
Management in the field of waste management in the conditions of transition to the circular economy in Ukraine
The impact of economic activity on the environment and the widespread use of clean technologies will continue to play a key role in the pursuit of environmentally friendly processes with minimal waste, but in Ukraine the...
Employees discrimination issues based on the statistical analysis using SPSS (Case of Georgia, Republic of)
Every single person has right to work in a free and fair environment. But unfortunately, there are some cases all over the world which show that the situation in the workplaces is opposite. There are different types of d...
What is independence and how to use it?
Today we gather in the name of science to celebrate 30 years of independence for Ukraine. Our task is to understand, on a deeper level, three decades of independence in Ukraine, the development of national parliamentaris...