Scalable Target Marketing: Distributed Markov Chain Monte Carlo for Bayesian Hierarchical Models

, & Peter E. Rossi
Many problems in marketing and economics require firms to make targeted consumer-specific decisions, but current estimation methods are not designed to scale to the size of modern data sets. In this article, the authors propose a new algorithm to close that gap. They develop a distributed Markov chain Monte Carlo (MCMC) algorithm for estimating Bayesian hierarchical models when the number of consumers is very large and the objects of interest are the consumer-level parameters. The...
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