Product Affinity Modeling Task

A Product Affinity Modeling Task is a predictive modeling task to build a product affinity model (of which products or services sell together).

• See: Product Affinity Analysis Task, Product, Affinity Modeling, Product Placement.

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References

2009

• Teradata http://www.teradata.com
  • … Product Affinity is one module in Teradata's comprehensive suite of …

    … Product Affinity Analysis provides marketers with the power to analyze and target customers based on product-centric purchase histories

2002

• (Gabor, 2002) ⇒ Gabor Melli. (2002). “PredictionWorks' Data Mining Glossary.
  • Affinity Modeling: The generation of a model that predicts which products or services sell together.
  • Business Benefit:
    • Decreases lost revenue from items that are unnecessarily placed together on a price-based promotion.
    • Data Sources: Raw transaction data (transaction id, item, price, qty).
    • Measurements: Maximization of an accuracy function (usually made up of confidence and support sub-measures. Often the maximization is limited to the rules that cover a particular product segment, such as the top 20% revenue/profit generators.
    • Techniques: n-way Correlation, Fisher (F) Statistic, Association Rules. In DMM see co-occurrence module.
    • Issues: one-to-one affinities are the most common to be reported. Many-to-one and many-to-many affinities are also available.
    • See Also: Association, Cross Sell Modeling, Data Mining Task, Diapers and Beer, Market Basket Analysis, and Price Elasticity Modeling.
    • References: Barry, M. and Linoff, G. "Data Mining Techniques". (1997). “Chapter 8 - Market Basket Analysis".
  • e.g. products placement layout

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2018

• (Wikipedia, 2018) ⇒ https://en.wikipedia.org/wiki/Product_placement Retrieved:2018-11-30.
  • Product placement, also known as embedded marketing, is a marketing technique where references to specific brands or products are incorporated into another work, such as a film or television program, with specific promotional intent. While references to brands may be voluntarily incorporated into works to maintain a feeling of realism and/or comment upon the brand, product placement is the deliberate incorporation of references to a brand or product in exchange for compensation. Product placements may range from unobtrusive appearances within an environment, to prominent integration and acknowledgement of the product within the work. Common categories of products used for placements include automobiles and consumer electronics. Works produced by vertically integrated companies (such as Sony) may use placements to promote their other divisions as a form of corporate synergy. During the 21st century, the use of product placement on television grew, particularly to combat the wider use of digital video recorders that can skip traditional commercial breaks, as well as to engage with younger demographics. Digital editing technology is also being used to tailor product placement to specific demographics or markets, and in some cases, add placements to works that did not originally have embedded advertising, or update existing placements.