A Survey of Recommendation Systems in Electronic Commerce
Chih‐Ping Wei, Michael J Shaw, Robert F. Easley · 2016
Advances in information and networking technology not only have facilitated the creation, distribution, and access of online information, they have also fostered conducting business transactions on the Internet. The amount of data in this global information space is increasing far more rapidly than the ability of an individual information user or online customer to process it. As a result, information overload has become a critical challenge facing individuals, giving rise to an e-Service opportunity: developing recommendations that are typically personalized for individuals. In providing this service, merchandisers seek not only to increase sales, but also to better manage customer relationships that lead to higher loyalty and greater competitive barriers. Recommendation systems (also known as recommender systems) have emerged as a new class of e-Service product to address the challenge of information overload by suggesting information or products of greatest interest to users (from the information user or online customer perspective) and to facilitate the management of customer relationships or even to provide personalized services to customers (from the merchandiser or information provider perspective).