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The Predict.X Platform enables data driven decision making across your organisation, background in advanced analytics not required!
Hospitality and retail business have multiple product offers for customers. Which product a customer chooses has a significant commercial impact for the business. A couple of key questions to consider could be; how do I influence customers to choose higher margin products to increase revenue and profitability. Also, how do I alter customer experience to influence upsell rates, increasing order value.
Retailers are able to influence purchase behaviour with our retail suite of applications that recommend accurate product selling opportunities and enable your staff to present relevant upsell opportunities.
Understanding variables that influence product choices has become possible now by leveraging leveraging consumer insight and predictive analytics. Behaviour science unlocks how the item listing, item descriptions, visuals, price formatting, the timing of certain customer-service actions and social influences influence the attractiveness of the next option, the perception of the item, and the customer’s expectations.
To Identify drivers for revenue and profit optimisation
While encouraging customers to increase basket size
To Encourage customers to choose a higher margin item
Based on customer profile and predicted customer purchase behaviour