A Bio-inspired Approach for Dynamic Product Bundling in Enterprise Networks
2Institute of Research and Technology Thessaly, CERTH, Volos, Greece.
3Department of Business Administration, T.E.I. of Thessaly, Larissa, Greece.
Abstract—Product bundling is a marketing strategy that concerns offering several products for sale as one combined product. Current bundling technology mainly focuses on the creation of static bundles, which involves pre-computing product bundles and associated discounts. However, due to the inherent dynamism and constant change of current and potential customer information, as is particularly the case in enterprise networks, static product bundles often prove to be inefficient. In this paper, we propose a bio-inspired approach for dynamic generation of personalized product bundles. The approach is based on the Ant Colony Optimization algorithm aiming to optimize the match between the available products and individual customer preferences. The applicability of the proposed approach is discussed through an exemplar application scenario.
Index Terms—Ant colony optimization, dynamic product bundling, enterprise networks, personalized product bundles.
Cite: Anthony Karageorgos, Elli Rapti, Vassilis C. Gerogiannis, "A Bio-inspired Approach for Dynamic Product Bundling in Enterprise Networks," Journal of Software vol. 11, no. 11, pp. 1111-1118, 2016.
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