Click-Through Rate Prediction in Online Advertising: A Literature Review

TL;DR

This paper systematically reviews recent CTR prediction models in online advertising, focusing on modeling frameworks, their evolution, advantages, challenges, and future research directions to aid scholars and practitioners.

Contribution

It provides a comprehensive classification and analysis of state-of-the-art CTR prediction models, highlighting their frameworks, performance, and research trends.

Findings

Classification of CTR models based on complexity and feature interactions

Performance comparison of models on various datasets

Identification of current research challenges and future directions

Abstract

Predicting the probability that a user will click on a specific advertisement has been a prevalent issue in online advertising, attracting much research attention in the past decades. As a hot research frontier driven by industrial needs, recent years have witnessed more and more novel learning models employed to improve advertising CTR prediction. Although extant research provides necessary details on algorithmic design for addressing a variety of specific problems in advertising CTR prediction, the methodological evolution and connections between modeling frameworks are precluded. However, to the best of our knowledge, there are few comprehensive surveys on this topic. We make a systematic literature review on state-of-the-art and latest CTR prediction research, with a special focus on modeling frameworks. Specifically, we give a classification of state-of-the-art CTR prediction models in the extant literature, within which basic modeling frameworks and their extensions, advantages and disadvantages, and performance assessment for CTR prediction are presented. Moreover, we summarize CTR prediction models with respect to the complexity and the order of feature interactions, and performance comparisons on various datasets. Furthermore, we identify current research trends, main challenges and potential future directions worthy of further explorations. This review is expected to provide fundamental knowledge and efficient entry points for IS and marketing scholars who want to engage in this area.