Prof. U Dinesh Kumar to lead IIMB Chair Of Excellence Seminar based on his research paper on 26th March
Session to be themed on, ‘Predicting Customers’ Forgetfulness Using Bandits Models: The Case of Online Grocery Shopping’
21 March, 2024, Bengaluru: Prof. U Dinesh Kumar, Dean, Faculty; Chairperson, Data Centre and Analytics Lab, and faculty of the Decision Sciences area of IIM Bangalore, will lead the IIMB Chair Of Excellence Seminar, to be held from 4 pm to 5 pm on 26th March 2024, at N-204. The session will be themed on, ‘Predicting Customers’ Forgetfulness Using Bandits Models: The Case of Online Grocery Shopping’. Prof. U Dinesh Kumar held the IIMB Chair of Excellence position from January 2020 to December 2023.
To register, please visit: https://iim-b.zoom.us/webinar/register/WN_rCYizOxxQYOmAlo0XYyLbQ
Abstract: Forgetting to purchase an item is typical in grocery shopping, whether online or in person. While this forgetfulness is inconvenient for the customer, it represents a substantial missed sales opportunity for the business because the customer is unlikely to return to the store to purchase a single forgotten item. The researchers emphasize that this is an opportunity for e-tailers to learn their customers’ preferences and recommend products that they may have forgotten to purchase, resulting in increased revenue and a good customer experience. Since grocery shopping is a habit-driven phenomenon, this study utilizes customers’ purchase histories to identify their preferences and predict items they have forgotten when shopping at e-tailer platforms. Using an advanced Multi-Armed Bandit (MAB) framework, the researchers propose a two-stage mechanism wherein stage-I creates a pruned subset of relevant offerings and stage-II generates the forgotten item using results of stage-I. Utilizing data from a prominent Indian e-retailer, the researchers explain the agent learning technique of customer preferences and personalized prediction of forgotten items, often known as the ‘did you forget?’ items.
Prof. U Dinesh Kumar to lead IIMB Chair Of Excellence Seminar based on his research paper on 26th March
Session to be themed on, ‘Predicting Customers’ Forgetfulness Using Bandits Models: The Case of Online Grocery Shopping’
21 March, 2024, Bengaluru: Prof. U Dinesh Kumar, Dean, Faculty; Chairperson, Data Centre and Analytics Lab, and faculty of the Decision Sciences area of IIM Bangalore, will lead the IIMB Chair Of Excellence Seminar, to be held from 4 pm to 5 pm on 26th March 2024, at N-204. The session will be themed on, ‘Predicting Customers’ Forgetfulness Using Bandits Models: The Case of Online Grocery Shopping’. Prof. U Dinesh Kumar held the IIMB Chair of Excellence position from January 2020 to December 2023.
To register, please visit: https://iim-b.zoom.us/webinar/register/WN_rCYizOxxQYOmAlo0XYyLbQ
Abstract: Forgetting to purchase an item is typical in grocery shopping, whether online or in person. While this forgetfulness is inconvenient for the customer, it represents a substantial missed sales opportunity for the business because the customer is unlikely to return to the store to purchase a single forgotten item. The researchers emphasize that this is an opportunity for e-tailers to learn their customers’ preferences and recommend products that they may have forgotten to purchase, resulting in increased revenue and a good customer experience. Since grocery shopping is a habit-driven phenomenon, this study utilizes customers’ purchase histories to identify their preferences and predict items they have forgotten when shopping at e-tailer platforms. Using an advanced Multi-Armed Bandit (MAB) framework, the researchers propose a two-stage mechanism wherein stage-I creates a pruned subset of relevant offerings and stage-II generates the forgotten item using results of stage-I. Utilizing data from a prominent Indian e-retailer, the researchers explain the agent learning technique of customer preferences and personalized prediction of forgotten items, often known as the ‘did you forget?’ items.