Shopping Basket Analysis
Do you know which products in your online store are usually bought together? Sometimes the associated products or product categories may seem quite straightforward (like buying a TV and a TV cable), but sometimes an analysis may be bring forward new insights. Shopping Basket Analysis helps you to understand the relationships between different products and services, and enables you to provide more relevant product recommendations, which in turn are more likely to convert into actual sales. Shopping basket analysis can also be utilized to determine which products may be purchased by the same customer, but at different times. This can be useful information e.g. with automated marketing programmes, where a customer gets offers based on their previous purchases.