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List augmentation with model based multiple imputation: a case study using a mixed‐outcome factor model

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  • Wagner A. Kamakura
  • Michel Wedel

Abstract

This study concerns list augmentation in direct marketing. List augmentation is a special case of missing data imputation. We review previous work on the mixed outcome factor model and apply it for the purpose of list augmentation. The model deals with both discrete and continuous variables and allows us to augment the data for all subjects in a company's transaction database with soft data collected in a survey among a sample of those subjects. We propose a bootstrap‐based imputation approach, which is appealing to use in combination with the factor model, since it allows one to include estimation uncertainty in the imputation procedure in a simple, yet adequate manner. We provide an empirical case study of the performance of the approach to a transaction data base of a bank.

Suggested Citation

  • Wagner A. Kamakura & Michel Wedel, 2003. "List augmentation with model based multiple imputation: a case study using a mixed‐outcome factor model," Statistica Neerlandica, Netherlands Society for Statistics and Operations Research, vol. 57(1), pages 46-57, February.
    • Handle: RePEc:bla:stanee:v:57:y:2003:i:1:p:46-57
    DOI: 10.1111/1467-9574.00220
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    Cited by:

    1. Bijmolt, T.H.A. & Paas, L.J. & Vermunt, J.K., 2003. "Country and Consumer Segmentation : Multi-Level Latent Class Analysis of Financial Product Ownership," Other publications TiSEM 4fa5ac68-96cf-47ca-bc95-b, Tilburg University, School of Economics and Management.
    2. Rajkumar Venkatesan & Alexander Bleier & Werner Reinartz & Nalini Ravishanker, 2019. "Improving customer profit predictions with customer mindset metrics through multiple overimputation," Journal of the Academy of Marketing Science, Springer, vol. 47(5), pages 771-794, September.
    3. Bijmolt, T.H.A. & Paas, L.J. & Vermunt, J.K., 2004. "Country and consumer segmentation : Multi-level latent class analysis of financial product ownership," Other publications TiSEM fb506162-d125-4091-9083-9, Tilburg University, School of Economics and Management.
    4. Wagner Kamakura & Carl Mela & Asim Ansari & Anand Bodapati & Pete Fader & Raghuram Iyengar & Prasad Naik & Scott Neslin & Baohong Sun & Peter Verhoef & Michel Wedel & Ron Wilcox, 2005. "Choice Models and Customer Relationship Management," Marketing Letters, Springer, vol. 16(3), pages 279-291, December.
    5. Bijmolt, T.H.A. & Paas, L.J. & Vermunt, J.K., 2003. "Country and Consumer Segmentation : Multi-Level Latent Class Analysis of Financial Product Ownership," Discussion Paper 2003-75, Tilburg University, Center for Economic Research.

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