Difference between revisions of "Uncovering Market-Insights for Charles & Keith: MBA"
| Line 48: | Line 48: | ||
[[Image:AYEMBA.jpg|900px|center|AYE Cluster]] | [[Image:AYEMBA.jpg|900px|center|AYE Cluster]] | ||
| − | <div style="border-style: solid solid none; border-color: #35383c; border-width: 1px 1px; padding: 5px; font-size: 120%; font-weight: bold; background-color: #{{LibreOfficeColor2}}; color: #{{LibreOfficeColor3}}; border-radius: 3px 3px 0 0;"> | + | |
| + | <div style="border-style: solid solid none; border-color: #35383c; border-width: 1px 1px; padding: 5px; font-size: 120%; font-weight: bold; background-color: #{{LibreOfficeColor2}}; color: #{{LibreOfficeColor3}}; border-radius: 3px 3px 0 0;">Why Market Basket Analysis?</div> | ||
<div style="border: 1px solid #35383c; padding: 15px 15px 20px; border-radius: 0 0 3px 3px;"> | <div style="border: 1px solid #35383c; padding: 15px 15px 20px; border-radius: 0 0 3px 3px;"> | ||
| − | + | Our team’s motivation to mine for association rules was to gain a deeper understanding of customer buying preference. Based on our Exploratory Data Analysis, we discovered that up to x% of all the sales transactions made are Single-Item purchase. This is a striking insight and reveals that there is much room for C&K to push sales by cross-selling and upselling to consumers. | |
| + | |||
| + | Besides, our group wanted to take advantage of massive amounts of sales data provided to us on the items purchased per-transaction which is high compatible to the type of data required to conduct a MBA. Moreover, while association analysis is widely used in by grocery retailers and Fast-Moving- Consumer-Goods (FMCG) companies, is not as widely explored by Fast-Fashion retailers. Our group believes the similar approach can be applied to Fast-Fashion retailer such as C&K, to identify fashion apparels that are commonly purchased together. | ||
| + | |||
| + | Based on the insights gathered, the business could tailor marketing promotions to upsell and cross sell to customers. The management could also improve on the in-store shelving and layout to positively affect consumer purchase intent. | ||
| + | |||
| + | </div> | ||
| + | |||
| + | |||
| + | <div style="border-style: solid solid none; border-color: #35383c; border-width: 1px 1px; padding: 5px; font-size: 120%; font-weight: bold; background-color: #{{LibreOfficeColor2}}; color: #{{LibreOfficeColor3}}; border-radius: 3px 3px 0 0;"></div> | ||
| + | |||
| + | |||
</div> | </div> | ||
Revision as of 23:38, 17 April 2016
| HOME | OVERVIEW | DATA PREPARATION | ANALYSIS | PROJECT MANAGEMENT | DOCUMENTATION |
Due to the confidentiality of the data provided by our sponsor, we would be only showing the methods of analysis without the results. For authorised stakeholders, please refer to our report for more in-depth analysis with charts and descriptions.
Our team’s motivation to mine for association rules was to gain a deeper understanding of customer buying preference. Based on our Exploratory Data Analysis, we discovered that up to x% of all the sales transactions made are Single-Item purchase. This is a striking insight and reveals that there is much room for C&K to push sales by cross-selling and upselling to consumers.
Besides, our group wanted to take advantage of massive amounts of sales data provided to us on the items purchased per-transaction which is high compatible to the type of data required to conduct a MBA. Moreover, while association analysis is widely used in by grocery retailers and Fast-Moving- Consumer-Goods (FMCG) companies, is not as widely explored by Fast-Fashion retailers. Our group believes the similar approach can be applied to Fast-Fashion retailer such as C&K, to identify fashion apparels that are commonly purchased together.
Based on the insights gathered, the business could tailor marketing promotions to upsell and cross sell to customers. The management could also improve on the in-store shelving and layout to positively affect consumer purchase intent.
