The delayed feedback problem is one of the most pressing challenges in predicting the conversion rate since users' conversions are always delayed in online commercial systems. Although new data are beneficial for continuous training, without complete feedback information, i.e., conversion labels, training algorithms may suffer from overwhelming fake negatives. Existing methods tend to use multitask learning or design data pipelines to solve the delayed feedback problem. However, these methods have a trade-off between data freshness and label accuracy. In this paper, we propose Delayed Feedback Modeling by Dynamic Graph Neural Network (DGDFEM). It includes three stages, i.e., preparing a data pipeline, building a dynamic graph, and training a CVR prediction model. In the model training, we propose a novel graph convolutional method named HLGCN, which leverages both high-pass and low-pass filters to deal with conversion and non-conversion relationships. The proposed method achieves both data freshness and label accuracy. We conduct extensive experiments on three industry datasets, which validate the consistent superiority of our method.
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