In today's world, it is crucial for retailers to understand customer wants and needs to improve sales performance. The new communication channels such as social media, digital advertising and emails are providing retailers access to customer information on a regular basis, nonetheless creating more data for them to store.
The above scenario creates the demand for a predictive analytics platform that can handle massive data, its various nuances (sparseness) and deploy model in a production environment for real time monitoring and business actions. TDSS can help retailers solve real business problems like -
Interested in application for retail?
Reduce Customer Churn
Predict customers who might leave and help devise personalised offers for retention.
Analyse purchase patterns to recommend products they would love, thereby increasing value of each purchase.
Target best customer segments by analysing spending, product pricing, regional markets and seasonality patterns.