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Mining For Products With High Cross-Selling Potential

Meistaravörn í rekstrarverkfræði við tækni- og verkfræðideild

  • 30.5.2017, 16:00 - 17:00

Júlíus Pétur Guðjohnsen ver meistararitgerð sína "Mining For Products With High Cross-Selling Potential" þann 30. maí kl. 16 í stofu V102. 

Prófdómari: Páll Mested Ríkharðsson

Leiðbeinendur: Eyjólfur Ingi Ásgeirsson og Hlynur Stefánsson

Verkefnið er styrkt af LS Retail

Abstract:
Selecting the optimal products to promote in campaigns has always been a valuable topic of high interest to retailers. Modern point of sale (POS) systems collect vast amount of data that are stored in databases, by tapping into these databases we can extract useful information for category management and gain a competitive advantage. In this project we mine a POS transactional database to discover products with high cross-selling potential to use in promotional campaigns. Identifying and promoting these products aide in increasing the average basket size of the retailer resulting in increased revenues. The data used in the project analysis is supplied by a leading electronics retailer (a client of LS Retail). By using frequent itemset mining and optimization we are able to extract these valuable products, the output from the analysis is a hit list of products and categories that are best suited for promotional purposes. The results can be used for other decision-making like product discontinuation and replenishment programs.

 



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