Innovative Recommendation System Research Articles

Optimizing Financial Decision Support Systems with Machine LearningDriven Recommendations

Introduction: The research investigates the utility of cosine similarity as an innovative recommendation system designed to assist individuals in making financial choices tailored to their unique preferences and objectives. It embarks on an extensive analysis of diverse datasets encompassing a wide array of financial products, including investment portfolios, credit card offerings, insurance plans, personal loan options, and car loan packages. Each dataset undergoes meticulous feature extraction and preprocessing to optimize the accuracy of the cosine similarity model. Method: The research then applies cosine similarity to calculate the similarity scores between individual financial products, thereby producing personalized recommendations. These recommendations are predicated on a comprehensive spectrum of input variables. The outcomes of these case studies demonstrate the potency of cosine similarity as a foundation for the development of tailored financial guidance systems. Such recommendations empower individuals to make informed decisions that are intrinsically aligned with their distinctive financial aspirations. Results: Ridge and lasso regression algorithms are deployed to develop predictive models for assessing investment preferences and evaluating potential investment returns. Conclusion: The study highlights the necessity for financial institutions and advisory platforms to invest in data quality and algorithmic sophistication to enhance the efficacy and accuracy of these financial recommendations.

A Recommender System for Increasing Energy Efficiency of Solar-Powered Smart Homes.

Photovoltaic installations can be environmentally beneficial to a greater or lesser extent, depending on the conditions. If the energy produced is not used, it is redirected to the grid, otherwise a battery with a high ecological footprint is needed to store it. To alleviate this problem, an innovative recommender system is proposed for residents of smart homes equipped with battery-free solar panels to optimise the energy produced. Using artificial intelligence, the system is designed to predict the energy produced and consumed for the day ahead using three data sources: sensor logs from the home automation solution, data collected by the solar inverter, and weather data. Based on these predictions, recommendations are then generated and ranked by relevance. Data collected over 76 days were used to train two variants of the system, considering or without considering energy consumption. Recommendations selected by the system over 14 days were randomly picked to be evaluated for relevance, ranking, and diversity by 11 people. The results show that it is difficult to predict residents' consumption based solely on sensor logs. On average, respondents reported that 74% of the recommendations were relevant, while the values contained in them (i.e., accuracy of times of day and kW energy) were accurate in 66% (variant 1) and 77% of cases (variant 2). Also, the ranking of the recommendations was considered logical in 91% and 88% of cases. Overall, residents of such solar-powered smart homes might be willing to use such a system to optimise the energy produced. However, further research should be conducted to improve the accuracy of the values contained in the recommendations.

Enhancing shopping experiences in smart retailing.

The retailing market has undergone a paradigm-shift in the last decades, departing from its traditional form of shopping in brick-and-mortar stores towards online shopping and the establishment of shopping malls. As a result, “small” independent retailers operating in urban environments have suffered a substantial reduction of their turnover. This situation could be presumably reversed if retailers were to establish business “alliances” targeting economies of scale and engage themselves in providing innovative digital services. The SMARTBUY ecosystem realizes the concept of a “distributed shopping mall”, which allows retailers to join forces and unite in a large commercial coalition that generates added value for both retailers and customers. Along this line, the SMARTBUY ecosystem offers several novel features: (i) inventory management of centralized products and services, (ii) geo-located marketing of products and services, (iii) location-based search for products offered by neighboring retailers, and (iv) personalized recommendations for purchasing products derived by an innovative recommendation system. SMARTBUY materializes a blended retailing paradigm which combines the benefits of online shopping with the attractiveness of traditional shopping in brick-and-mortar stores. This article provides an overview of the main architectural components and functional aspects of the SMARTBUY ecosystem. Then, it reports the main findings derived from a 12 months-long pilot execution of SMARTBUY across four European cities and discusses the key technology acceptance factors when deploying alike business alliances.

Circle-based Group Recommendation in Social Networks

A large amount of data available on Web has proven to be an immense resource for innovative recommender system (RS) techniques and concepts. The traditional recommender system intended to provide recommendations for a single user. However, in certain domains the recommendation is required for a group of users. As to provide better recommendations for a group of users, we leverage the concept of circles in a network. In this work, we use the genetic algorithm (GA) K_Means clustering algorithm to generate social circles in a network. Then, we compute the status of each user in these overlapping circles. Finally, a circle-based group recommendation approach is used to generate the final group recommendation. The results obtained on the Epinions dataset validate the eminence of the proposed model over traditional approaches of group recommendation.