Manifold Learning to Identify Consumer Profiles in Real Consumption Data

Diego Perez, Marta Rivera-Alba, Alberto Sanchez-Carralero

2019

Abstract

Precise and comprehensive analysis of individual consumption is key to marketers and policy makers. Traditionally, people’s consumption profiles have been approximated by household surveys. Although insightful and complete, household surveys suffer from some biases and inaccuracies. To compensate for some of those biases, we propose a new approach to compute and analyze consumer profiles based on millions of purchase transactions collected by a personal financial manager. Since this new kind of data sources requires new analysis methods, in this paper we propose the use of manifold learning techniques to visualize the whole data set at once, demonstrating how these techniques can cluster consumers in more meaningful groups than demographics alone. These unsupervised behavior-based clusters allow us to draw more educated hypotheses that we could otherwise miss. As an example, we will specifically discuss the characteristics of individuals with high housing and recreation consumption in our sample.

Paper Citation

in Harvard Style

Perez D., Rivera-Alba M. and Sanchez-Carralero A. (2019). Manifold Learning to Identify Consumer Profiles in Real Consumption Data.In Proceedings of the 8th International Conference on Data Science, Technology and Applications - Volume 1: DATA, ISBN 978-989-758-377-3, pages 23-31. DOI: 10.5220/0007832400230031

in Bibtex Style

@conference{data19,
author={Diego Perez and Marta Rivera-Alba and Alberto Sanchez-Carralero},
title={Manifold Learning to Identify Consumer Profiles in Real Consumption Data},
booktitle={Proceedings of the 8th International Conference on Data Science, Technology and Applications - Volume 1: DATA,},
year={2019},
pages={23-31},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0007832400230031},
isbn={978-989-758-377-3},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 8th International Conference on Data Science, Technology and Applications - Volume 1: DATA,
TI - Manifold Learning to Identify Consumer Profiles in Real Consumption Data
SN - 978-989-758-377-3
AU - Perez D.
AU - Rivera-Alba M.
AU - Sanchez-Carralero A.
PY - 2019
SP - 23
EP - 31
DO - 10.5220/0007832400230031