Business Challenge
Developing a product recommendation platform for customers.
The client wanted to implement an effective mechanism that could assess the nature of individual customers and recommend the right products to them, for effective cross-selling and up-selling.
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Situation
Lack of accuracy in the current model.
The current model was not proving effective when it came to the accuracy of predictions at an individual product level. The client wanted to implement a much more robust mechanism.
Solution/Approach
Big Data analytics for clustering outlet level data and developing actionable insights.
We segmented and clustered the stores based on various factors including demographics, location, categories, etc., to develop effective cross-sell and up-sell recommendations. Our robust algorithm also facilitated the determination of the correlation between different products, based on customer behavior.
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Impact
Improvement in cross-selling and up-selling opportunities resulting in greater profitability.
Our solution helped the client in implementing an improved product recommendation platform. This assisted them in automating the process of product recommendation to the customers and improving the chances for cross-selling and up-selling.
