The Clickstream Similarity node converts a Clickstream Log File into a Product Similarity Rankings table that can be used by downstream nodes to generate a Product Correlation Matrix. For example, the Similarity Matrix node could be placed directly downstream of this Clickstream Similarity node.

The Clickstream Similarity node applies a modified ‘Markov Chain’ algorithm to calculate the probability that once the Customer views the If Product they will, at some point in the future, also view the Then Product. The algorithm puts greater weight on the Correlation Probability when the Then Product is viewed soon after the If Product. The algorithm also puts greater weight on those Products that the Customer views towards the end of their journey through the website, as opposed to those Products the Customer views at the beginning of their journey. These later Products are more likely to represent the Customer’s true interest than the earlier Products the Customer discovers when first entering the website.

This Premium Node is not available as part of the free Community Edition. Premium Nodes help clean and connect real-world data to Market Simulations, and provide advanced Market Science analysis. Note that these descriptions are often deliberately vague.

The Clickstream Similarity node converts a Clickstream Log File into a Product Similarity Rankings table that can be used by downstream nodes to generate a Product Correlation Matrix. The Output Product Similarity Rankings table can then be used to generate a WTP Matrix containing the Willingness To Pay (WTP) of each Customer for each Product in a Market.

Product Similarity Rankings

The Output Product Similarity Rankings lists the relationship between all Products found in the Clickstream Log File. That is, from the Customers who looked at Product01 how did they rank Product02 and what is the probability that the two Products are similar.