Patent attributes
The present invention relates to a system and method for generating business decisions. Embodiments of this system and method receive customer transaction data and additional information (cumulatively referred to as ‘modeling data’). This data is utilized to generate a product decision tree which models consumer purchasing decisions as a tree structure. The product decision tree may be utilized by the system to analyze demand for a given leaf (product) in association with other related products. In some embodiments, customers are segmented into groupings of customers who have similar attributes, including similar shopping behaviors. Customer insights are generated for the customer segments. The customer insights and the product decision tree are used to generate business plans, which may then be provided to a store for implementation. These plans may include a product assortment plan, an everyday pricing plan, a promotional plan, and a markdown plan.
