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Data Mining and Modeling: Why Who Buys What Matters

  Article published in DM Direct Newsletter
September 20, 2002 Issue
 
  By David S. Coppock

As we know, purchase patterns vary tremendously across customers. Nonetheless, there are often recurring patterns for products that are purchased together. A retail store is an example of where this occurs. If these purchase patterns are understood, they can provide valuable marketing opportunities.

Product affinity analysis is a set of methodologies that looks for groups of items that tend to be purchased by the same customers. Recommendations systems (including collaborative filtering) are a related set of methodologies that can identify likely purchases at the individual level based upon past purchasing patterns. I would like to provide some insight into how these can add value to marketing strategies. But rather than running through a litany of seemingly obscure data analysis methodologies, I will lay out the marketing actions and results that they can support. If these marketing actions seem relevant for your business, then the right methodology can be determined to support your objectives. Click here to read the complete article.


David Coppock has more than 20 years of experience in technical and strategic marketing positions. As senior vice president of Data Mining and Modeling at ANALYTICi he has implemented leading edge methodologies for targeting, segmentation and marketing strategy applications. He also led the Analytic Database Marketing Division at AT&T.; He holds a Ph.D. in economics from Yale University and can be contacted at dcoppock@patmedia.net.

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