Retailers and ecommerce companies face several challenges when trying to analyze transaction data to uncover insights. Without the right tools, it can be difficult to identify products that are frequently purchased together by customers.
Understanding Customer Buying Behavior
Hard to gain insights into what drives customer purchasing without analytics.
Promoting Cross-Selling
Tough to determine which complementary products to recommend at checkout without understanding associations.
Strategizing Marketing Campaigns
Difficult to optimize promotions and offers without knowing what products go well together.
Identifying New Opportunities
Transaction data often contains undiscovered insights that are hard to uncover manually.
How RapidCanvas Market Basket Solution Works
RapidCanvas AI-powered Market Basket Analysis solution follows a process to uncover hidden relationships in transaction data.
Data Ingestion
Data Ingestion
Retail transaction data is gathered as input for analysis.
The output reveals product relationships and associations in the data. Product pairs with the strongest associations represent cross-selling potential.
Product recommendations can be optimized based on the insights using conversational interface that translates plain English commands into custom code instantly.
Market basket analysis powered by RapidCanvas provides retailers and ecommerce companies with increased order values, cross-selling, and customer retention resulting in higher profitability.
Customers appreciate personalized recommendations based on behavior.
Optimized Sales Strategies
Marketing and promotions can be fine-tuned based on product associations.
Deeper Customer Insights
Detailed insights into customer behavior and preferences.
Key Industry Metrics
Hear from Our Customers
"RapidCanvas has revolutionized our platform’s user experience through AI-driven product discovery and recommendations. Their adeptness in deciphering data and crafting actionable insights has enhanced our user engagement metrics. Their data science prowess seamlessly aligned with our business objectives, giving us insights to elevate our customer experience."
Hitesh Dhall
Sr Product Manager, Rekhta
Uncovering Insights from Transaction Data
Understanding Customer Buying Behavior
Promoting Cross-Selling
Strategizing Marketing Campaigns
Identifying New Opportunities
Understanding Customer Buying Behavior
Promoting Cross-Selling
Strategizing Marketing Campaigns
Identifying New Opportunities
Understanding Customer Buying Behavior
Promoting Cross-Selling
Strategizing Marketing Campaigns
Identifying New Opportunities
Understanding Customer Buying Behavior
Promoting Cross-Selling
Strategizing Marketing Campaigns
Identifying New Opportunities
Understanding Customer Buying Behavior
Promoting Cross-Selling
Strategizing Marketing Campaigns
Identifying New Opportunities
Understanding Customer Buying Behavior
Promoting Cross-Selling
Strategizing Marketing Campaigns
Identifying New Opportunities
Why customers choose RapidCanvas for market basket analysis
See Rapid Time-To-Value
Address unique business needs without starting from scratch; state your business problem and the AutoAI discovery process will generate a matching AI solution within hours.
Build Expert-Led AI
Leverage the industry knowledge of data science experts, as required, to validate against industry benchmarks and ensure optimal AI solution performance
Access Actionable Business Insights
Create visual, interactive data apps, dashboards and reports to showcase business KPIs and outcomes, and monitor business performance
Use An End-To-End AI Solution
Achieve an end-to-end AI solution with an out-of-the-box setup for all steps from data orchestration, data preparation, transformations, model building and testing, through to model deployment and data apps
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