Understand what items are purchased together and leverage the insights for cross sell, pricing, promotion and merchandizing decisions.
Knowing and analyzing what products people purchase as a group can be very helpful to a retailer in particular or to any other seller in general. A retailer can use this technique to organize and place products frequently sold together into the same area. The online merchant can use this technique to determine the layout of their catalog and order form in a website. The bank or a telecom company can use it to determine what new products to offer their customers and evolve schemes to bundle various products and services. The primary objective of Market Basket Analysis is to improve the effectiveness of marketing and sales tactics using the customer data that is accumulated with the enterprise during the sales transaction.
Our highly intuitive data mining tool can quickly crunch huge amounts of data and generate output for many situations like cross sell, pricing, offer development, assortment and many others.