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1.+Overview_+Recommender+Systems

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1.+Overview_+Recommender+Systems

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golgothgolgoth039
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Overview:

Recommender Systems
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• The Age of Information
R8L0PN473F Agenda
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• Recommendations and Recommender
Systems

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The Age of Information
● Today, data and information continues to grow exponentially
throughout the globe.
One of the statistics to have come out from this is that the total
volume of the world’s data roughly doubles every two years.

● As a result of this growth, we have created an information


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overload, and too many choices for the consumer of any
business. In some ways, this could be thought of as a paradox
of choices, and it represents a real dilemma for these
consumers.

A famous school of thought is that


when you give people too many choices,
they will turn to denial.

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So can we do something about this?
Yes - Recommender Systems to the rescue!

Recommender Systems are one of the best tools a business can employ to solve the
problem of information overload. They are focused on providing personalized
recommendations that limit the amount of information a user gets to what’s most relevant
for the user and what’s most likely to keep them engaged.
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You can sit back and relax - Recommender Systems


will filter out the noise and give you relevant,
personalized information that will help you make your
decisions.

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What do we mean by “Recommendation”?
Can you
recommend What genres
any movies would you be
for tonight? interested in?
If you give someone a
recommendation,
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it's good" or "this is the
You can watch: best way to proceed”.
I would love 1) The Matrix
to watch a 2) Terminator
Sci-fi action 3) Avatar
movie.

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Recommender Systems
● Recommender Systems then, are merely filtering processes
that have been developed to solve the information overload
problem. They can do this by providing personalized
suggestions of products to specific customers according to their
unique preferences.

● This fits in well with the needs of modern-day customers, who


prefer personalized
experiences and want to feel uniquely valued
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and catered to by the services they utilize.

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Recommender Systems
● The big question then, is of course, how exactly do
Recommender Systems filter out the noise and provide
suggestions that would be more personalized and relevant for a
user than just a random selection?

● In many ways, Recommender Systems are just a re-


formulation of the same problem of making intelligent
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predictions using techniques from across the scope of Artificial
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Intelligence and Machine Learning.

Hence, the theory behind Recommender Systems is truly vast,


and it has drawn from every other field of research in Data
Science, Machine Learning and AI.

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Summary

■ We've understood the core modern-day problem that the data & information explosion taking place in the
world today has altered the dynamics of business-customer interactions. Customers have a lot of
information at their disposal to make decisions, and information overload usually leads to a decision-
making paralysis and eventually customer attrition.
■ A good way to mitigate this problem is to place an information-filtering system in front of the customer that
prioritizes showing them smart, personalized suggestions which are likely to keep them engaged and
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R8L0PN473F prevent attrition. This is exactly what Recommender Systems do.

■ This is ultimately a re-formulation of the idea of making intelligent predictions in various contexts, which is
the basis of all of Data Science, Machine Learning and Artificial Intelligence. Hence, the theory behind
Recommender Systems is vast in scope and closely tied to the latest advancements in all of these fields.

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Happy Learning !
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