Acquia Adds Market Basket Model to Its CDP
Digital experience company Acquia has introduced advanced retail machine learning models for Acquia Customer Data Platform (CDP), designed to increase customer lifetime value. Among these innovations is a market basket model that intelligently bundles relevant products, empowering retailers to better understand the behavior of their customers.
The market basket model for Acquia CDP is an analytics solution that helps retailers pair products, price packages, and gain a deeper understanding of customers' buying preferences. This model identifies correlations between items frequently purchased together to make smarter recommendations to end customers.
"Acquia is continuing to lead the pack for retail CDPs," said Kevin Cochrane, senior vice president of product marketing at Acquia, in a statement. "Through the recent launch of our multi-touch attribution model and new market basket model, we are helping retailers gain a more holistic view of their business by understanding successful levers within their sales and marketing efforts. This data-driven approach helps teams understand buyer habits to improve offerings and drive key conversion metrics that matter most."