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Shiv Nadar University

Alongside revenue maximization, retailers seek to offer a diverse range of items to facilitate sustainable revenue generation in the long run. Moreover, customers typically buy sets of items, i.e., itemsets, as opposed to individual items. Therefore, strategic placement of diversified and high-revenue itemsets is a priority for the retailer. Research efforts made towards the extraction and placement of high-revenue itemsets in retail stores do not consider the notion of diversification. Further, candidate itemsets generated using existing utility mining schemes usually explode; which can cause memory and retrieval-time issues. This work makes three key contributions. First, we propose an efficient framework for retrieval of high-revenue itemsets with a varying size and a varying degree of diversification. A higher degree of diversification is indicative of fewer repetitive items in the top-revenue itemsets. Second, we propose the kUI (kU tility I temset) index for quick and efficient retrieval of diverse top-λ high-revenue itemsets. We also propose the HUDIP (H igh-U tility and D iversified I temset P lacement) scheme, which exploits our proposed kUI index for placement of high-revenue and diversified itemsets. Third, our extensive performance study with both real and synthetic datasets demonstrates the effectiveness of our proposed HUDIP scheme in efficiently determining high-revenue and diversified itemsets. © 2022, The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.

World University root node

Computer Science and Engineering

(SoE) School of Engineering

Applied Intelligence

A framework for itemset placement with diversification for retail businesses

Placement of items on the shelf space of retail stores signifcantly impacts the revenue of the retailer. Given the prevalence and popularity of medium-to-large-size retail stores, several research efforts have been made towards facilitating item/itemset placement in retail stores for improving retailer revenue. However, they do not consider the issue of urgency of sale of individual items. Hence, they cannot efficiently index, retrieve and place high-revenue itemsets in retail store slots in an urgency-aware manner. Our key contributions are two-fold. First, we introduce the notion of urgency for retail itemset placement. Second, we propose the urgency-aware URI index for efficiently retrieving high-revenue and urgent itemsets of different sizes. We discuss the URIP itemset placement scheme, which exploits URI for improving retailer revenue. We also conduct a performance evaluation with two real datasets to demonstrate that URIP is indeed effective in improving retailer revenue w.r.t. existing schemes. © 2021, Springer Nature Switzerland AG.

Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)

An Urgency-Aware and Revenue-Based Itemset Placement Framework for Retail Stores

Retailer revenue is significantly impacted by item placement in retail stores. Notably, placement of items in the premium slots (i.e., slots with increased visibility/accessibility) improves the probability of sale w.r.t. item placement in non-premium slots. Moreover, customers often tend to buy sets of items (i.e., itemsets) instead of individual purchases. In this paper, we address the problem of maximizing retailer revenue by determining the placement of itemsets in different types of slots with varied premiumness. Our key contributions are as follows. First, we introduce the notion of premiumness of retail slots and discuss the issue of itemset placement in slots with varied premiumness. Second, we propose two efficient schemes, namely P remiumness and R evenue-based I temset P lacement (PRIP) and P remiumness and A verage R evenue-based I temset P lacement (PARIP), for placing itemsets with varying revenue in slots with varied premiumness. Third, we perform a detailed performance analysis using both real and synthetic datasets to showcase the effectiveness of our proposed schemes. We also perform a comprehensive mathematical analysis of our proposed schemes w.r.t. the complexity analysis. © 2013 IEEE.

IEEE Access

A Retail Itemset Placement Framework Based on Premiumness of Slots and Utility Mining

Placement of items on the shelf space of retail stores significantly impacts the revenue of the retailer. Since customers typically tend to buy sets of items (i.e., itemsets) together, several research efforts have been undertaken towards facilitating itemset placement in retail stores for improving retailer revenue. However, they fail to consider that the time-period of expiry can vary across items i.e., some items expire sooner than others. This leads to loss of opportunity towards improving retailer revenue. Hence, we propose PEAR, which is a Product Expiry-Aware and Revenue-conscious itemset placement scheme for improving retailer revenue. Our key contributions are three-fold. First, we introduce the problem of addressing retail itemset placement when the items can be associated with different time-periods of expiry. Second, we propose the expiry-aware PEAR scheme for efficiently identifying and placing high-revenue itemsets for improving retailer revenue. Third, we conduct a performance study with two real datasets to demonstrate that PEAR is indeed effective in improving retailer revenue w.r.t. a reference scheme. © 2021 IEEE.