Unlock the value of your transaction data
Market Basket Analyzer is a software platform that provides rapid insights into customer purchase behavior by analyzing enormous transaction-level datasets within seconds. Retailers can filter each analysis on a variety of key dimensions, including day of week, time of day, store format and customer group. Through the software’s easy-to-use interface and ongoing analytic support from Mastercard professionals, decision makers have transaction-level insights at their fingertips. These insights help retailers drive profitability with more effective promotions, assortments, pricing and marketing strategies.
Understand customer purchase behavior to inform more effective strategies
Mastercard Test & Learn®
Market Basket Analyzer unlocks a deeper understanding of customer purchase behavior to generate actionable hypotheses, such as which products to promote. By using Test & Learn® to evaluate these hypotheses, retailers can gain deeper insights into basket-level trends. For instance, when evaluating a product promotion, Test & Learn® can quantify lift driven by cherry-picking vs. cross-selling.
A major global retailer wanted to identify assortments driving the most benefit to the business to inform product optimization. Additionally, the retailer wanted to evaluate sales performance of new and replaced items, pricing and promotion strategies and category performance over time.
Several teams across separate business areas were quickly trained to perform rapid analyses of transaction-level data using Market Basket Analyzer. With direct access to the dataset, analysts using the software observed a 10x increase in speed to insights.
Market Basket Analyzer efficiently enhanced decision making across assortment optimization, new item introduction, pricing and promotion and category review processes. By applying the product’s recommendations in these four areas, the retailer generated $3.4 million in value from better decisions and time savings annually.