Data Analysis For Customer Buying Behaviour
About the customer
Our client is running a successful eCommerce website (an online store) selling variety of utility items in New York, USA.
The Business Need
The consumer base on eCommerce website was growing rapidly and our client wanted a data analytics system, which would help them to understand customer buying behavior using the historical sales data. The system was also required to help our client to understand the top selling products to maintain inventory.
The Solution by LipiTech
LipiTech deployed its best data scientists to analyze the data being collected and apply the best statistical models. A highly advanced software application was developed which would process the sales data into 60+ variables with statistical models like Pearson Correlation, ARIMA and Regression. The solution processes millions of records using multi-threading technique to produce the consumer buying behaviors. The KRAs are computed and suggestions are written by the software.
Impact on the business
Our client is able to have a clear view of the stocks movement, the impact of different variables on sales along with individual customer’s behaviour. This information is now being used to launch specific campaigns. Overall, our client has increased the sales by 30% in the last 3 month.
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