Knowledge representations for the interactive selling of financial services

Selling financial services requires deep knowledge about the product domain as well as about potential wishes and needs of customers. In the financial services domain (especially in the retail sector) sales representatives can differ greatly in their expertise and level of sales knowledge. Therefore financial service providers ask for tools effectively supporting sales representatives in the dialog with the customer. In this paper we present technologies which allow a flexible mapping of product, marketing and sales knowledge to the representation of a recommender knowledge-base thus providing an infrastructure for the interactive selling of financial services. Furthermore, we report experiences gained from financial service recommender development projects.

[1]  Tsong Yueh Chen,et al.  Adaptive random testing by localization , 2004, 11th Asia-Pacific Software Engineering Conference.

[2]  Josep Lluís de la Rosa i Esteva,et al.  A Taxonomy of Recommender Agents on the Internet , 2003, Artificial Intelligence Review.

[3]  Izak Benbasat,et al.  Multimedia-based interactive advising technology for online consumer decision support , 2004, CACM.

[4]  Alexander Felfernig,et al.  Testing Knowledge-Based Recommender Applications , 2005 .

[5]  Michael J. Pazzani,et al.  A Framework for Collaborative, Content-Based and Demographic Filtering , 1999, Artificial Intelligence Review.

[6]  Veronica Winkler,et al.  A User-Aware Financial Advisory System , 2004 .

[7]  Dietmar Jannach,et al.  Building on-line sales assistance systems with ADVISOR SUITE , 2004, SEKE.

[8]  Alexander Felfernig,et al.  An Empirical Study on Consumer Behavior in the Interaction with Knowledge-based Recommender Applications , 2006, The 8th IEEE International Conference on E-Commerce Technology and The 3rd IEEE International Conference on Enterprise Computing, E-Commerce, and E-Services (CEC/EEE'06).

[9]  Ralph Bergmann,et al.  Retrieval and Configuration of Life Insurance Policies , 2005, ICCBR.

[10]  Alun D. Preece,et al.  Evaluation of verification tools for knowledge-based systems , 1997, Int. J. Hum. Comput. Stud..

[11]  Virginia E. Barker,et al.  Expert systems for configuration at Digital: XCON and beyond , 1989, Commun. ACM.

[12]  Heikki Mannila,et al.  Principles of Data Mining , 2001, Undergraduate Topics in Computer Science.

[13]  Alexander Felfernig,et al.  Knowledge-based Interactive Selling of Financial Services with FSAdvisor , 2005, AAAI.

[14]  Gerhard Fleischanderl.  Suggestions from the Software Engineering Practice for Applying Consistency-Based Diagnosis to Configuration Knowledge Bases , 2002 .

[15]  Wei-Tek Tsai,et al.  Evaluation of expert system testing methods , 1994, CACM.

[16]  Raymond Reiter,et al.  A Theory of Diagnosis from First Principles , 1986, Artif. Intell..

[17]  Janet L. Kolodner,et al.  Case-Based Reasoning , 1989, IJCAI 1989.

[18]  Duen-Ren Liu,et al.  Hybrid Recommendation Approaches: Collaborative Filtering via Valuable Content Information , 2005, Proceedings of the 38th Annual Hawaii International Conference on System Sciences.

[19]  Gertjan van Noord,et al.  Finite State Transducers with Predicates and Identities , 2001, Grammars.

[20]  John Riedl,et al.  Item-based collaborative filtering recommendation algorithms , 2001, WWW '01.

[21]  Markus Stumptner,et al.  Configuration knowledge representations for Semantic Web applications , 2003, Artificial Intelligence for Engineering Design, Analysis and Manufacturing.

[22]  Robin D. Burke,et al.  Hybrid Recommender Systems: Survey and Experiments , 2002, User Modeling and User-Adapted Interaction.

[23]  Markus Stumptner,et al.  Configuring Large Systems Using Generative Constraint Satisfaction , 1998, IEEE Intell. Syst..

[24]  Loren Terveen,et al.  Beyond Recommender Systems: Helping People Help Each Other , 2001 .

[25]  Robin Burke,et al.  Knowledge-based recommender systems , 2000 .

[26]  Edward P. K. Tsang,et al.  Foundations of constraint satisfaction , 1993, Computation in cognitive science.

[27]  Liliana Ardissono,et al.  A Framework for the Development of Personalized, Distributed Web-Based Configuration Systems , 2003, AI Mag..

[28]  Markus Stolze,et al.  Combining Configuration and Evaluation Mechanisms to Support the Selection of Modular Insurance Products , 2000, ECIS.

[29]  Gerhard Friedrich.  Elimination of Spurious Explanations , 2004, ECAI.

[30]  Markus Stumptner,et al.  Consistency-based diagnosis of configuration knowledge bases , 1999, Artif. Intell..

[31]  John Riedl,et al.  E-Commerce Recommendation Applications , 2004, Data Mining and Knowledge Discovery.

[32]  Robert Winter,et al.  Konfiguration von Versicherungsleistungen , 1994, Wirtsch..

[33]  Kristian J. Hammond,et al.  The FindMe Approach to Assisted Browsing , 1997, IEEE Expert.

[34]  Eleutherios Papathanassiou,et al.  Mass customisation: management approaches and internet opportunities in the financial sector in the UK , 2004, Int. J. Inf. Manag..

[35]  James Goodwill.  Mastering JSP Custom Tags and Tag Libraries , 2002 .

[36]  Alexander Felfernig,et al.  Debugging user interface descriptions of knowledge-based recommender applications , 2006, IUI '06.

[37]  Pat Langley,et al.  A Personalized System for Conversational Recommendations , 2011, J. Artif. Intell. Res..

[38]  C. Forza,et al.  Managing for variety in the order acquisition and fulfilment process: The contribution of product configuration systems , 2002 .

[39]  Gediminas Adomavicius,et al.  Toward the next generation of recommender systems: a survey of the state-of-the-art and possible extensions , 2005, IEEE Transactions on Knowledge and Data Engineering.

[40]  Izak Benbasat,et al.  Online consumer decision support , 2005 .

[41]  Ralph Bergmann,et al.  Case-Based Reasoning Support for Online Catalog Sales , 1998, IEEE Internet Comput..

[42]  Jonathan L. Herlocker,et al.  Evaluating collaborative filtering recommender systems , 2004, TOIS.

[43]  Alexander Felfernig,et al.  Koba4MS: selling complex products and services using knowledge-based recommender technologies , 2005, Seventh IEEE International Conference on E-Commerce Technology (CEC'05).

[44]  Gerhard Friedrich,et al.  Uml as Domain Specific Language for the Construction of Knowledge-Based Configuration Systems , 1999, Int. J. Softw. Eng. Knowl. Eng..