Modeling of marketing processes using markov decision process approach

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27240%2F18%3A10237798" target="_blank" >RIV/61989100:27240/18:10237798 - isvavai.cz</a>
Result on the web
<a href="https://link.springer.com/chapter/10.1007/978-3-319-68321-8_48" target="_blank" >https://link.springer.com/chapter/10.1007/978-3-319-68321-8_48</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1007/978-3-319-68321-8_48" target="_blank" >10.1007/978-3-319-68321-8_48</a>

Result language
angličtina
Original language name
Modeling of marketing processes using markov decision process approach
Original language description
In this paper, an application of Markov Decision Processes (MDP) for modeling selected marketing process is presented. The process is converted into MDP model, where states of the MDP are determined by a configuration of state vector. Elements of the state vector represent most important attributes of the customer in the modeled process. Movement between the states is determined by actions of the customer. In constructed MDP model, individual states with assigned initial reward values then represent consequences of action chosen by the customer resulting in either incresing or reducing the revenue following moving into these states. Value iteration method is then used for computation of the expected final rewards for each state. Based on provided realistic data, customer behavior is analyzed and the best course of action is proposed. Model suitability for future predictions of desired action outcome rate is discussed as well.
Czech name
—
Czech description
—

Project
Result was created during the realization of more than one project. More information in the Projects tab.
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Advances in Intelligent Systems and Computing. Volume 679
ISBN
978-3-319-68320-1
ISSN
2194-5357
e-ISSN
2194-5365
Number of pages
476
Pages from-to
468
Publisher name
Springer
Place of publication
Cham
Event location
Varna
Event date
Sep 14, 2017
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
—

Similar results(10)