IV. What is key points in Product / SKU segmentation for business ?
Comparing Traditional Segmentation and Trendify Segmentation
How Do Business Use Product / SKU Segmentation ?
– Inventory Management
– Forecasting Ideal Stock Level
– Pricing Strategy
– Advertising and Marketing
You can manage your processes in the most effective way by making a correct product segmentation.
What is Product / SKU Segmentation ?
Propensity Modeling uses advanced machine learning algorithms to predict customer behavior. Propensity modeling is often critical in domains such as marketing, sales, e-commerce and CRM.
Forecasting customer churn is called tracking the rate at which customers quit using the product/service.
Product Segmentation is the process of the parsing products into separate groups relationally with robust analytics and machine learning algorithms. In the retail and inventory industry, product segmentation is oftenly used to manage planning, pricing, promotions and discounts on products.