Quantzig, a global data analytics and advisory firm that delivers actionable marketing analytics solutions to resolve complex business problems, has announced the completion of their latest market basket analysis engagement for a leading US-based retailer. Market basket analysis is a commonly used technique that helps retailers to uncover associations between frequently purchased items. Analyzing such correlations can help businesses to find new cross-selling opportunities to improve sales and drive revenue.
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At Quantzig, we understand the challenges faced by businesses, which is why we offer customized analytics solutions to cater to the unique business needs of our clients. Our portfolio of advanced retail analytics solutions is designed to help retailers maximize profitability by turning data into actionable insights. Through our market basket analysis solutions, we help our clients to capitalize on new opportunities by predicting the future purchase patterns of their customers. Our solutions also help retailers to use the data obtained from market basket analysis to develop new pricing models and improve revenue.
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The client is a leading US-based retailer who was looking at leveraging market basket analysis to understand and cater to the changing purchase behaviors and preferences of their customers. Their main aim was to improve MROI by creating promotions that leverage correlations and track current retail market trends.
Using market basket analysis, the client wanted to-
- Improve marketing effectiveness
- Create personalized campaigns
- Track retail market trends
- Analyze their customer’s buying behavior
“Market basket analysis empowers retailers to gauge and analyze the value of purchased goods to better understand the pattern in which products are frequently purchased,” says a market basket analysis expert from Quantzig.
Our market basket analysis solutions helped the client to understand customer buying patterns by analyzing customer-generated data. By better understanding customer needs, the retailer was able to devise specific strategies to target profitable customer groups. Moreover, Quantzig’s market basket analysis solutions helped the client to correlate buying patterns with foot traffic to analyze the factors that bought the customers to the store. This, in turn, helped drive MROI by helping them target the most profitable customer groups.
Request a free proposal if you’re unsure about how to get started with market basket analysis.
Quantzig’s market basket analysis solutions helped the client to:
- Improve marketing effectiveness
- Uncover associations between frequently purchased items
- Request FREE demo to learn how market basket analysis can help you drive campaign effectiveness and ROI.
Quantzig’s market basket analysis solutions offered predictive insights on:
- Developing new pricing models
- Improving business operations
- Learn how market basket analysis can help you make the most of your marketing dollars. Request for more information now!
Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 15 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of 120+ clients, including 45 Fortune 500 companies. For more information on our engagement policies and pricing plans, visit: https://www.quantzig.com/request-for-proposal.