The most important single ingredient in the formula of success is knowing how to get along with people. Theodore Roosevelt
In the previous article I tried to cover the basics of pricing analytics. Now I'd like to talk about something more interesting.
Have you ever thought about why you choose certain products in stores, why you prefer them to other similar ones? Many shopping trips are spontaneous, so it's probably impossible to give a clear answer for all the times you go shopping. But the general idea is obvious: you go shopping for a specific reason (to get food, a gadget, for entertainment, to play blackjack). In this article I'm going to use available data from grocery retailers to talk about how a set of basic logical assumptions and community analysis can help us determine the way customers choose products.