Modeling brand choice using boosted and stacked neural networks
The brand choice problem in marketing has recently been addressed with methods from computational intelligence such as neural networks. Another class of methods from computational intelligence, the so-called ensemble methods such as boosting and stacking have never been applied to the brand choice problem, as far as we know. Ensemble methods generate a number of models for the same problem using any base method and combine the outcomes of these different models. It is well known that in many cases the predictive performance of ensemble methods significantly exceeds the predictive performance of the their base methods. In this report we use boosting and stacking of neural networks and apply this to a scanner dataset that is a benchmark dataset in the marketing literature. Using these methods, we find a significant improvement in predictive performance on this dataset.
Potharst, R., van Rijthoven, M., & van Wezel, M.C.. (2005). Modeling brand choice using boosted and stacked neural networks (No. EI 2005-05). Retrieved from http://hdl.handle.net/1765/1911