A Novel Approach of Purchase Prediction Considering the Purchase on Competing Company by Using ID-POS Combined with Geofencing Location Data

Abstract

Nowadays various kinds of data about customers behavior on online websites or applications can be collected for the marketing analysis. However, especially for the physical retailing stores, it is still difficult to acquire their behaviors on competing firms. In this research, we develop a novel approach of considering the usage of competitors and present the way to predict customers future purchase on retailing stores with ID-POS data combined with the third-party large-scale geofence location data collected from the smartphone apps.