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© 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.

Abstract

Data concerning product sales are a popular topic in time series forecasting due to their multidimensionality and wide presence in many businesses. This paper describes the research in predicting the timing and product category of the next purchase based on historical customer transaction data. Given that the dataset was acquired from a vendor of medical drugs and devices, the generic product identifier (GPI) classification system was incorporated in assigning product categories. The models built are based on recurrent neural networks (RNN) and long short-term memory (LSTM) neural networks with different input and output features, and training datasets. Experiments with various datasets were conducted and optimal network structures and types for predicting both product category and next purchase day were identified. The key contribution of this research is the process of data transformation from its original purchase transaction format into a time series of input features for next purchase prediction. With this approach, it is possible to implement a dedicated personalized marketing system for a vendor.

Details

Title
Single and Multiple Separate LSTM Neural Networks for Multiple Output Feature Purchase Prediction
Author
Ćirić, Milica 1   VIAFID ORCID Logo  ; Predić, Bratislav 2   VIAFID ORCID Logo  ; Stojanović, Dragan 2 ; Ćirić, Ivan 3   VIAFID ORCID Logo 

 Faculty of Civil Engineering and Architecture, University of Niš, Aleksandra Medvedeva 14, 18000 Niš, Serbia 
 Faculty of Electronic Engineering, University of Niš, Aleksandra Medvedeva 12, 18000 Niš, Serbia; [email protected] (B.P.); [email protected] (D.S.) 
 Faculty of Mechanical Engineering, University of Niš, Aleksandra Medvedeva 14, 18000 Niš, Serbia 
First page
2616
Publication year
2023
Publication date
2023
Publisher
MDPI AG
e-ISSN
20799292
Source type
Scholarly Journal
Language of publication
English
ProQuest document ID
2829796357
Copyright
© 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.