I have been Working on algorithms and formulas to find out a score for the products available on my ecommerce website.Basically, I want to calculate some kind of score to rank the products when a user searches it. I'll give some background on the criteria i am planning to define to calculate the ranking:
- Product Clicks
- Product views
- Product Conversions
- Product Rating(given by users)
- Relevance to the search string provided by user
Ideally i want an algorithm where i can calculate all the scores and rank the product accordingly.I have all the datas available with me,but i am confused about how much weightage i should give to all the parameters i have described above?
Any help will be appreciated !!
Thanks in advance.
EDIT: I am planning to assign the weightage for each of the parameters as follows:
- Product Clicks(CTR) : 1.0
- Product Views : 1.5
- Product Conversions : 4.0
- Product Rating : 2.0
What could be the formula which can be used to calculate the score ?
Taking into account the rating of the product makes it a more difficult calculation because the number of reviews will always be substantially lower than the number of view/sales/... so the product reviews could have a bigger impact on the product score than you would want.
Maybe this paper helps: http://web.engr.oregonstate.edu/~cscaffid/papers/eu_20070611_redopal.pdf