Each Customer is different, yet forms part of a category or group. The real challenge for businesses is in identifying such marketable ‘groups’, create an apt marketing strategy and maximize impact and profitability.
By combining the concepts of Connected Data and using the best data mining and analytical approaches, organizations can identify products within their portfolio that have a higher tendency to “sell together”.
These could be from a similar product category, like say Insurance plans. These could even be cross-category like say Soaps and Shampoos. Product affinity analysis aims to create distinct customer segments with affinity towards specific group of products to devise sharper positioning campaigns, marketing promotions & personalized offers. All this by leveraging the power of Connected Data!