Acquia Launches 'Market Basket Analytics' Solution

In the US, digital customer experience company Acquia has added a 'market basket analytics' solution to its Customer Data Platform (CDP), to help retailers pair products and price packages, and gain a deeper understanding of their own customers' buying preferences.

Acquia's CDP compiles a single profile for each customer, combined from profile, transactional, and event data sources. With hundreds of pre-built and configurable attributes, users can create customer segments and multi-channel journeys to deliver relevant campaigns, and measure audience performance and behavior at the segment level, across campaigns and channels.

The new market basket model works by identifying correlations between items frequently purchased together, in order to make data-driven recommendations to end customers and help maximise customer lifetime value.

Kevin Cochrane (pictured), SVP of Product Marketing, comments: 'Through the recent launch of our multi-touch attribution model and new market basket model, we are helping retailers gain a more holistic view of their business by understanding successful levers within their sales and marketing efforts. This data-driven approach helps teams understand buyer habits to improve offerings and drive key conversion metrics that matter most'.

Web site: www.acquia.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.