Learn from historic data to accurately predict future trends and outcomes that drives efficiency and productivity
For a business organisation wanting to achieve higher business goals, a better customer insight, higher retention and improve their business revenues, customer data analytics insight is the way forward. These objectives are achieved through the application of customer insight techniques, i.e., Market Basket Analysis and Customer Segmentation. The objectives is to help you understand your customers’ behaviour better, effective campaign targets and specific product recommendations. We will work with you to provide the data insight your business requires for a higher revenue and productivity.
01. BUSINESS PROBLEM
How do you use your data to gather the insights about your most precious treasures (products, customers and services) for your business? How do you maximise the value of every customer and product/service to the business? How do you see the relationships and associations among products items, services and different classes and categories? How do you achieve higher quality cross-sell and upsell for the business? These and more are questions that your business needs to answer in order to achieve your desired business objective. We will help you to achieve your goals (maximum sales target) and answer all these and more challenges your business may be facing.
02. BUSINESS SOLUTION
We use your data about orders, products and services to produce a better customer segmentation, a market basket analysis, get customer data insights to target customers’ needs by serving clients with different offers and targeted recommendations in order to improve sales and a broad product offering options. Links and association within products and services will show significant business insight. Our methodology includes data collection, exploring& data preparation, model training on data, model performance evaluation and improvement. We analyse different data transactions to identify association rules and measure the strengths of rules using different metrics which include the Support, the Confidence, the Lift etc. We use different data mining tools and techniques (Apriori Algorithm) in order to achieve your desired solution. We will work with you to understand your goal and desired objectives, so that we help you reach your target.
03. BUSINESS DELIVERABLES
We will provide you with the pseudo code for your model required to run the analysis and market basket analysis for your products and services that will show the relationships of products and each category/ies.
A detailed report and dashboard about your customers, products, associations and links, segmentation and recommendations for the unhappy customers and how to target them.
04.BUSINESS OUTCOME
Our intervention in your problem will bring satisfaction and long-term business relationship with the customers, hence, increase in revenue. You will know and serve your customers better. They are more likely to purchase a variety of products and services and associated items as a result of recommended products and services which will in turn increase your sales. Market Basket Analysis can be used in many applications that include but not limited to Inventory management, Store layouts, Content placements, credit card purchases, fraudulent medical insurance claims,