| Summary: | Business Strategies are formulated based on an understanding of customer needs. This requires development of a strategy to understand customer behaviour and buying patterns, both current and future. This involves understanding, first how an organization currently understands customer needs and second predicting future trends to drive growth. This article focuses on purchase trend of customer, where timing of purchase is more important than association of item to be purchased, and which can be found out with Sequential Pattern Mining (SPM) methods. Conventional SPM algorithms worked purely on frequency identifying patterns that were more frequent but suffering from challenges like generation of huge number of uninteresting patterns, lack of user’s interested patterns, rare item problem, etc. Article attempts a solution through development of a SPM algorithm based on various constraints like Gap, Compactness, Item, Recency, Profitability and Length along with Frequency constraint. Incorporation of six additional constraints is as well to ensure that all patterns are recently active (Recency), active for certain time span (Compactness), profitable and indicative of next timeline for purchase (Length―Item―Gap). The article also attempts to throw light on how proposed Constraint-based Prefix Span algorithm is helpful to understand buying behaviour of customer which is in formative stage.
|
|---|
