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Next best offer

Next Best Offer, sometimes also called a shopping cart analysis or next best action, will be used if you want to go into effective cross-selling, that is, sales of related products.

 

The pioneer in this area is Amazon, but you can also look at McDonald's. Try to buy one thing there and immediately they offer you another one. Not by accident, but based on customer behavior analysis.

WHAT DOES IT GIVE TO YOU 

The benefits are obvious – increase in sales of the second and other product to your customer. There are, however, more areas of use and they are usually highly effective.
You can use the related product rules for the following purposes:
  • related products on the web placement
  • offer of packages personalization
  • selection of customers for direct communication
  • shop layout
  • training on product contexts for sales personnel
  • related goods packages

HOW WE DO IT

We use data science and machine learning tools. The basis is the measurement of the sales relations of all the products with all other products.
For each pair, we calculate the quantity of basic and related products sold, and how often the rule that both products are purchased applies.
The algorithm we use is validated by many years´ experience in the production environment.

OUTPUTS

The output is a set of rules with different product combinations. But we can also prepare the following for you:
  • customization of your marketing message to  your customers
  • Next best offer automation systems tailored to your seasonality and warehouse management
  • automatic update of your model

Want to know more? Conctact us. We will be happy to help.

 
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Contact:

Data Mind s.r.o.

Phone: +420 720 705 639, +420 220 386 449
E-mail: info@datamind.cz
Address: Pobřežní 18 / 16, Praha 8 - Karlín, 186 00
IČO: 28953789

face.png, 26 kB Mgr. Jan Matoušek

Phone: +420 720 705 639
E-mail: jan.matousek@datamind.cz

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