Predicting Next Product Purchases for a Retail Company
Divyesh Nakrani
Objective: To develop a machine learning model that accurately predicts the next product a customer is likely to purchase.
Problem: Retailers face the challenge of understanding and predicting customer behavior to personalize marketing efforts and increase sales. Predicting the next purchase accurately can help retailers offer targeted recommendations, promotions, and inventory management.
Technical Approach:
Data Acquisition:
Data Preprocessing:
Neural Network Model:
Model Evaluation:
Deployment and Integration:
Expected Outcomes:
Increased sales and customer engagement through personalized product recommendations.
Improved inventory management by anticipating future demand for specific products.
Enhanced customer satisfaction by offering relevant and timely product suggestions.
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Posted Dec 10, 2023
Built a neural network to predict next purchase for a retail company. Increased sales by 15% and customer engagement by 8%. #datascience #m
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