An approach based on machine learning techniques for forecasting vietnamese consumers’ purchase behaviour

Abstract

The main goal of this study is to investigate the classification capability of several machine learning (ML) techniques, including decision tree (DT), multilayer perceptron (MLP) network, Naïve Bayes, radial basis function (RBF) network, and support vector machine (SVM) for predicting purchase decisions. The application case is related to consumer purchase decisions of domestic goods in the context of Vietnam. Firstly, factors influencing Vietnamese consumers’ purchase decision of domestic products were identified. Then, data from 240 consumers in Vietnam were collected. Different classifying models based on ML techniques were developed to analyse the sampling data after the performances of the models were evaluated and compared using confusion matrix, accuracy rate and several error indexes. The results indicate that the DT(J48) obtained the highest performance with the corrected prediction percentage of 91.6667%. The findings also show that machine-learning techniques can be used to explicitly in forecasting Vietnamese consumers’ purchase behaviour.