Difference between revisions of "ANLY482 AY2016-17 T2 Group21 : PROJECT OVERVIEW"
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| − | <b> | + | <b>Dressabelle</b> is a leading online fast-fashion retailer in Singapore. Dressabelle set themselves apart with not one but two fresh fashion collection every week. Their mission is for women to feel confident about themselves when they dress in their clothes. With affordable pricing they want women to know they don’t have to blow a couple hundred for a dress that doesn’t compromise on style or quality. |
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==<div style="background: #404041;font-weight: light; padding:0.3em; text-transform:uppercase;letter-spacing:0.1em;font-size:18px; font-family: 'Century Gothic'"><font color=#ffffff><center>Business Problems</center></font></div>== | ==<div style="background: #404041;font-weight: light; padding:0.3em; text-transform:uppercase;letter-spacing:0.1em;font-size:18px; font-family: 'Century Gothic'"><font color=#ffffff><center>Business Problems</center></font></div>== | ||
Revision as of 17:31, 16 February 2017
Contents
Project Overview
Dressabelle is a leading online fast-fashion retailer in Singapore. Dressabelle set themselves apart with not one but two fresh fashion collection every week. Their mission is for women to feel confident about themselves when they dress in their clothes. With affordable pricing they want women to know they don’t have to blow a couple hundred for a dress that doesn’t compromise on style or quality.
Business Problems
For sustained growth over the years, 4FINGERS has to launch new menu items to further entice their customers, with limited software and human resources at hand, they are unequipped with resources to determine the performance of promotions and set menu items. Although they have a variety of products to offer their customers, such as asian style burgers, rice boxes and salads, sales for products other than their signature Korean fried chicken, is generally low. Since their initial set up in Singapore, they have been using traditional metrics to measure success.
Motivation
4FINGERS’ marketing division has come up with various product mixes to upsell and cross-sell their products, without knowing which are the right products to upsell and cross-sell to increase the probability of customers making additional purchases. Hence, with the help of our team, 4FINGERS’ marketing division hopes to be able to market and offer a more targeted and hence appealing product mix to their specific customers segments depending on the location of the outlet, and ultimately generate high sales revenue at each outlet.
Our team realized that as Singaporeans, we love our food and appreciate it despite not knowing about the reasons for why our culture is as such. Hence, we are eager and honored at the opportunity to be able to take on this project and work together with 4FINGERS to better understand the lifestyle and Singaporean culture that we treasure and hold so dearly.
Project Objectives
The aim of this project is to help 4FINGERS understand and improve sales on 3 levels:
1. Product-level analytics - Analysing purchasing patterns and identifying commonly brought product combinations to find up-selling and promotional opportunities
2. Customer-segment level analytics - Identifying distinct groups of customers such as those who dine-in, take-away or call for delivery. Customers coming at different times of the day can exhibit different purchasing behavior
3. Outlet-level analytics - Performing analysis on outlet-level help identify location specific trends and demand. Testing and learning from our recommendations starting from a single outlet will help validate our hypothesis.
Project Scope
Data collection - Gather data from 4FINGERS POS systems and product catalog
Data preparation - Cleaning data and anonymising/censoring data
Analysis of Market Baskets - Generation of association rules and contextualising it with product information.
Analysis of Customers segments - Grouping market Basket analysis by customer segments data
Analysis of Outlet trends - Grouping market Basket analysis by outlet level data
Refinement - Get client feedback and refine our models
Stakeholders
Project Supervisor: Prof Kam Tin Seong, Associate Professor of Information Systems; Senior Advisor, SIS
Sponsor: Jayss Rajoo, Senior Marketing Manager, 4FINGERS
