This project offers a plug and play solution allowing retail analytics teams to conduct market basket analysis of their past customer transactions. With easy tailoring of the project through a Dataiku Application and capacity to adjust the data flow to their needs, the Market Basket Analysis solution enables retail companies to learn purchasing patterns and identify new business opportunities. More details on the specifics of the solution can be found on the knowledge base.
- Input transaction data to generate association rules across products
- Define the solution settings through a user friendly Dataiku App: date filtering strategy, association rules computations, customer transactions dates filtering
- Consume the output through interactive dashboards aiming at (i) analyzing the items frequency and (ii) identifying cross-sell and up-sell opportunities for your consumers
- Rerun the entire data pipeline on new data using a simple application
- Automate the pipeline to rebuild with new/fresh data
- Learn purchasing patterns and identify new business opportunities
Personalization is a huge opportunity for Retail and CPG businesses: 80% of companies report seeing an uplift since implementing personalization, which includes recommending relevant products to users. Several techniques can be used to build relevant recommendations: one of them is the Market Basket Analysis, used by retailers to increase sales by better understanding customer purchasing patterns. It relies on the analysis of large purchase history dataset to identify products that are likely to be purchased together.
One of the most famous examples of it is the well-known e-commerce giant which heavily uses “Frequently bought together” items on the product pages. It can also be leveraged by bricks-and-mortar stores: for example, a sports shop could choose to place running shoes next to swimsuits based on the analysis to increase sales. Overall, it is a great and powerful way to generate value through several use cases: optimizing product placement both online and offline, offering product bundles deals etc. While driving additional sales for the retailer and enhancing the shopping experience for customers, Market Basket Analysis is a key asset to make the customers build brand loyalty toward the company.
- Requires Dataiku v9+
- Prior to installation, your Dataiku instance Admin will need to create a code environment. The full list of requirements can be found here.
- Once your instance has been prepared, you can install this pre-packaged use case in one of two ways:
- On your Dataiku instance click + New Project > Industry Solutions > Search for Market Basket Analysis
- Download the .zip project file and upload it directly to your Dataiku instance
- Dataiku Online customers can install the solution from the Launchpad by clicking Features > Add A Feature > Extensions > Market Basket Analysis
Plug and Play with your own Data
Use the Dataiku Application to easily upload
your data and adjust the project to your needs.
Data Driven Insights
Thanks to the flow, easily understand the project
structure, navigate data transformation steps and tailor
to your needs as needed.
Get a quick and shareable view of transactions data, understand your items support before and after selection, with prebuilt graphs.
Interactive Dashboard For Analysis
Explore your sales history to uncover business patterns and identify the most frequent items.
Interactive Dashboard For Recommendation
Extract new business opportunities thanks to the rules browser. Search items to browse rules linked to them and define your metric thresholds and orders to filter the results.
Automate the pipeline
Automate the refresh of the flow and configure its cadence according to your needs. Feed the output data into your marketing suite to launch enhanced marketing initiatives.