Summary
In this module, you explored the Frequently bought together dashboard and the insights that it provides. You also explored the Retailer or store, Period, and Product criterion filters. You reviewed the different types of reports that the model provides and derived insights from the sample data to solve the challenges that Contoso Groceries deals with.
By implementing these solutions, Contoso Groceries could fulfill their objectives, resulting in the following benefits:
Streamlined shopping experience - Contoso experiences enhanced customer satisfaction and loyalty by providing personalized and seamless shopping experiences that are tailored to their culinary preferences.
Enhanced sales opportunities - By strategically promoting related products and encouraging larger purchases, Contoso boosts average basket values and drives revenue growth.
Optimized merchandising strategies - By analyzing products that are frequently bought together, Contoso realizes improved product placement and assortment curation, ultimately maximizing customer engagement and sales potential.
Data-informed decision making - Contoso uses insights into customer behavior to drive marketing initiatives, inventory management strategies, and product offerings, and to ensure alignment with customer preferences and market trends.
Strategic merchandise placement - Contoso groups ingredients that customers frequently buy together to facilitate easier shopping and enhance customer experience.
Tailored promotional offers - Introducing bundled discounts on frequently bought together items helps Contoso incentivize purchases and increase basket size.
Regional buying behavior analysis - By using the Frequently bought together model, Contoso can identify regional variations in purchasing patterns, which helps them make adjustments in product assortments to meet local demand trends effectively.