Recommender systems for product bundling

Recommender systems (RS) are a class of information filter applications whose main goal is to provide personalized recommendations, content, and services to users. Recommendation services may support a firm's marketing strategy and contribute to increase revenues. Most RS methods were designed to provide recommendations of single items. Generating bundle recommendations, i.e., recommendations of two or more items together, can satisfy consumer needs, while at the same time increase customers’ buying scope and the firm's income. Thus, finding and recommending an optimal and personal bundle becomes very important. Recommendation of bundles of products should also involve personalized pricing to predict which price should be offered to a user in order for the bundle to maximize purchase probability. However, most recommendation methods do not involve such personal price adjustment.