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Experian Model 'Predicts Next Purchase'
In the US, Experian Marketing Services has launched a model to help predict the next product a catalog shopper is likely to purchase, as well as the channel through which that purchase will be made.
The new 'Next Product Purchase' system draws on transactional product and channel data to help catalog marketers pinpoint future products and purchase channels at a household level. Experian says this enables catalog marketers to make the most of their marketing budgets by delivering more relevant offers.
'Next Product Purchase predicts the next product your customers are going to purchase and through which channel they will make the purchase,' explained Denise Hopkins, VP of Marketing and Product Development. 'Such pinpoint accuracy will increase client loyalty, improve response rates and, most importantly, drive revenue.'
The model taps into Experian's Z-24 Catalog Database, which currently contains information on more than 110 million households and a prospecting universe within 24 months of 35 million households.
The group, which has corporate headquarters in Dublin, Ireland, and operational headquarters in Costa Mesa, California, and Nottingham, UK, employs approximately 15,500 people in 38 countries worldwide.
Web site: www.experianplc.com .
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