Best Next Offer Wizard: Overview

The Best Next Offer wizard is available within the Modelling module of FastStats. You will need the Modelling licence to access and use this wizard.

Best Next Offer suggestions are made for customers, based on:

• previous customer transactions

• the frequencies that pairs of each variable value have occurred (propensity)

• the number of transactions that have occurred for each variable value (popularity)

The user can restrict the records on the grouping table, the records on the transaction table, and choose the variable on which the offer will be made.

The user can additionally choose:

• whether or not to allow previously bought products to be offered again

• the rank of the offer, e.g. the best, the second best, the third best, etc.

There are also two weightings that can be adjusted in order to favour propensity or popularity.

 

In the Analysis section of the Wizards ribbon bar, click on the Best Next Offer icon to start the wizard - Grouping Table .