Share of Wallet Data Acquisition
How to understand customers' share of wallet outside of own business to gain in-depth knowledge of customers' purchase behaviours?
Solution
Built a solution to identify product information from customers' purchase receipts using Machine Learning – Optical Character Recognition & Natural Language Processing.
Integrating with online retailer data, we can enhance the product information and form a complete view of customer's purchases outside of our own business to improve personalised product recommendations and empower frontline staff with insights into customers' share of wallet.
Result
We have collected product data from more than 50 brands ready to be used for enriching the product data of customers' purchases, strengthening the understanding of customers' product preferences for building a customer-centric product portfolio and offering more relevant product recommendations