Drive more sales, bigger baskets, and repeat visits
Almost no industry has changed as much as retail in recent years. But the fundamentals remain the same: present the right product in the right way at the right price, and they’ll buy. That’s trickier than it seems, especially with changing industry and consumer dynamics. But data science can help. From understanding customer propensities to setting the optimal price to ensuring products are actually available when demanded, data science can help make customers happy and get them coming back for more.
Personalize recommendations
Understand customer preferences and what they’re likely to buy. Personalize interactions with both repeat customers and prospects to increase conversion rates.
Get more into each basket
Determine what goes well with what for each customer and product. Present complementary products at just the right moment to increase basket sizes.
Get customers back for more
Create better loyalty programs to maximize lifetime value of existing customers by promoting repeat purchases.
Set the right price
Analyze regional markets, climate patterns, competitive moves and consumer spending when planning promotions and pricing strategies. Make optimal decisions for each location.
Improve assortment planning and merchandising
Know what’s going to sell so you have the right products in each store and online. Merchandise products effectively to maximize appeal.
Optimize inventory and supply chains
Reduce the risk of stock outs while not with impacting profitability or working capital with excessive inventory. Send each customer home with what they want.
Lightning Fast Data Science
RapidMiner is a software platform for data science teams that unites data prep, machine learning, and predictive model deployment. Organizations can build machine learning models and put them into production faster than ever, using RapidMiner’s lightning fast visual workflow designer and automated modeling capabilities. More than 350,000 data scientists in over 150 countries use RapidMiner products to drive revenue, reduce costs, and avoid risks.
