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Activity Number: 448 - The Essential Role of Statistics in Modeling Complex Data in Business and Economics
Type: Invited
Date/Time: Wednesday, August 2, 2017 : 8:30 AM to 10:20 AM
Sponsor: Section on Statistics in Marketing
Abstract #324673
Title: Modeling Smart WiFi Tracking Data and Customer Purchase Conversion
Author(s): Jason Duan*
Companies: University of Texas at Austin

By leveraging a novel and rich data set collected from state-of-the-art mobile WiFi tracking devices in the retail industry, we model the and store visit and purchase conversion process at multiple stores of a retail chain. The comprehensive allow us to investigate the role of promotion strategy in influencing consumer pass-by, store visit, and search behavior prior to purchase. We propose a hierarchical model to control for both observed and unobserved heterogeneity. We combine Mobile WiFi data with scanner transaction data to develop a matching algorithm, which offers new insights into customer behavior in offline shopping. Our holistic modeling approach also provides insights into the effect of promotions across different stages of the conversion funnel.

Authors who are presenting talks have a * after their name.

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