MBSAP MARKET BASKET ANALYSIS SERVICES

Market Basket Analysis in data mining is a key technique that helps retailers to uncover dealings between consumers and items. It looks into a combination of items that figure regularly in transactions of a consumer. The technique is based on the theory that if a person buys or does not buy certain items, they are more likely or less likely to buy a second group of items. Organizations leverage this technique to understand customers better and use this understanding to drive sales.

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    Market Basket Analysis Services We Offer

    We have been catering to the needs of global clients for over two decades now and understand each customer’s unique requirements and provide them with services that are tailored to meet their needs. We offer a range of market basket analysis services. These include –

    Market Basket Analysis for Affinity Analysis

    We specialize in affinity analysis and help our clients identify relationships between buyers and the attributes linked with their habits. We leverage data mining techniques to understand customer behavior so that our clients can influence buyers for repeat purchases. We have linked affinity analysis with expected ordering time thus helping companies turn campaigns into a robust and formidable, repeat-purchase-process.

    Market Basket Analysis for Association Rule

    Our Association Rule Mining process has helped our clients discover correlations between data sets that are independent data repositories, such as transactional databases and relational databases. While on the one hand retailers have used this service of our to collect data about purchasing patterns on the other hand we have even assisted doctors to use association rules to help diagnose patients and help developers with data on how visitors interact with their website.

    Market Basket Analysis for Value Proposition

    Our value proposition services using market basket analysis helps to compare and map data sets to understand the value proposition that has been delivered and can be delivered by an enterprise. Our clients have used this service to understand the primary reason their customers buy from them. Our drilled down service has even assisted our clients to determine whether people will bother reading more about their product or not. Understanding the value proposition in the right perspective has helped our clients up the ante in a competitive landscape.

    Market Basket Analysis for Understanding the Voice of the Customer

    Voice of the Customer helps you understand your customer’s feedback on their experiences with and expectations with your products or services. We collate data gathered from baskets to analyze them and give you an understanding of customer expectations, needs, understandings, and product improvement, all of which add up to reflect the customer’s voice. Our market basket analysis services have helped marketers catch the pulse of the customer’s voice and accordingly tailor customer expectations.

    Market Basket Analysis for Cross/Up-Sell Opportunities

    We use market basket analysis to help our clients identify cross-selling opportunities. We leverage advanced arithmetical ad-hoc clustering function and blend it with market-basket analysis to tell our clients where they might be missing on increased sale opportunities. As a result of this analysis, our clients can quickly find out customers who can be targeted to buy more. Given that it costs several times more to acquire a new customer, compared to selling to an existing one, we have helped our clients grow revenues with fewer expenses.

    Market Basket Analysis for Customer Segmentation

    Customer segmentation involves categorizing customers based on information gathered about their interactions with the business. We make use of explanatory models of multi-category choice behavior to display category purchases and drops. Our clients leverage this service to typically estimate across-category effects of marketing-mix variables on purchase possibilities for a determined set of product categories. With this service, we have helped marketers to identify the customer segments for which they need to do email promotion.

    Market Basket Analysis for Customer Targeting

    With this service, we assist our clients to serve the customer better by keeping their customers at the forefront and then approaching them with products or services. It essentially means that banks read the need of the customer even before the customer realizes it. We leverage all the available data with banks to carry out a market basket analysis that helps to unearth different pairings of service offerings that are being accepted by the customers and all those possible baskets that can be lapped up by the same customers.

    Market Basket Analysis for Comprehending Purchase Behavior Patterns

    We help our clients leverage market basket analysis to discover the purchasing pattern of customers. By availing of this service, most of our clients have been able to evaluate the relationship between products, and consumers and use this data to launch new products or better pricing models for maximum returns. We have assisted our clients understand customer behavior under several variable conditions, thus helping the retailer robustly determine the connection between products and buyers and acquire the inside knowledge of customer buying behavior.

    Market Basket Analysis for Market Assessments

    Market assessment helps businesses gather inference into the market viewpoint, recognize business opportunities for better investment and growth, determine marketing activities in more concrete ways, and have the best inputs for decision making. Market Basket Analysis helps to collect data as per the need to refine and investigate it to draw the right insights. Our market basket analysis services explore, analyzes, and interprets raw data into useful information for insights that help in improving efficiency.

    Market Basket Analysis for Campaigns and Loyalty

    With this service, we assist our clients to carry out effective data-driven campaigns for higher sales and reward customer loyalty. With the help of refined and targeted analysis, we help you uncover how customers come back and shop more often with you. Our clients have banked on our service to have more number of returning visitors; fine-tune loyalty-program emails to cater to customers taste, enhance revenue with loyalty ads.

    Market Basket Analysis for Willingness to Pay

    Understanding Willingness to pay can help businesses to come out with the best products within a certain price range. In other words, willingness to pay can be defined as the maximum amount a customer would want to pay for a particular product or service. It varies from customer to customer, but an average price can be determined by analyzing the data available with a business. We combine market basket analysis with conjoint analysis – a special survey, in which customers rank different bundled features – to help businesses rightly know what the correct pricing for a product for wider acceptance would be. This service has helped our clients take the right decision to gain maximum on pricing.