Consumer purchase behavior analysis
Project Complexity - Intermediate
Technology: Machine Learning | Business Sector: Retail
Project Description
Consumer purchase behavior analysis is the study of how people make purchase decisions with regard to a product, service, or organization. Studying consumer behavior would allow you to answer several questions, such as:- How consumers feel about alternatives to their preferred brands
- How consumers choose between the alternatives
- How consumers behave while shopping
- How consumer behavior is swayed by their surrounding environment
- How marketing campaigns can be improved to more effectively influence customer behavior
- How much customer spends on your product
In this article, we will try to explore different trends from any shopping dataset (black Friday). We will extract useful information that will answer questions such as: what gender shops more. Do the occupations of the people have any impact on sales? Which age group is the highest spender?
In the end, we will create a simple machine learning algorithm that predicts the amount of money that a person is likely to spend on any occasion (ex: black Friday, amazon big billion days etc,) depending on features. An application is built which is integrated to the model built to display the predictions on UI.
In the end, we will create a simple machine learning algorithm that predicts the amount of money that a person is likely to spend on any occasion (ex: black Friday, amazon big billion days etc,) depending on features. An application is built which is integrated to the model built to display the predictions on UI.
