Product Recommendation Prediction
You can understand your customers’ interests of item, content, or services by creating sets of predictive product recommendation with the help of a product recommendation model. The recommendations are based on previous behavior and customers with similar purchase patterns.
The Product Recommendation model provides the basis for educated product recommendations based on customer transactions data like purchases, returns, and donations. This can help your business to significantly boost revenues, CTRs, conversions, and other important metrics. You can also utilize the data to improve the user experience, which has a beneficial impact on measures like customer happiness and retention that are more difficult to evaluate but nonetheless very important to online businesses.
You need to have the following customer transaction history data to create Product Recommendation model:
- MDM configuration
- Transaction ID
- Transaction date
- Unique product ID
- Value of transaction (Price).