Next Best Promotion models
The Next Best Promotion model is a ready-to-use data science model that helps you determine the price a customer is willing to pay for a particular product based on their historical product purchases.
The Next Best Promotion model explained
The Next Best Promotion model allows for personalized pricing of products. This can lead to higher conversion rates, total revenue, and average order value.
The model provides personalized promotions by identifying the price a customer is willing to pay for a product based on their historical purchases.
Parameters of the model
When creating the model, you will need to define the following parameters for the model:
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Algorithm: The algorithm is the piece of code that runs the model.
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Queries: The queries selected for the model generate a dataset for model training and scoring.
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Inputs: The inputs are query attributes from the Unity data model that are used for model training and scoring. You can't make changes to model inputs.
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Outputs: The outputs are data objects and attributes from the Unity data model that are used to store the output values of the model. You can make updates to the default mapping of model outputs.
Model inputs
To generate values, the Next Best Promotion model uses the following data.
For the model to successfully run:
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Data needs to be ingested into all the input attributes below.
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The MasterCustomer and Order Item data objects need a Relationship that uses the CustomerID attribute as the foreign key.
| Data object | Attribute | Data type | Description |
|---|---|---|---|
| Master Customer | MasterCustomerID | String | The unique identifier for the customer. |
| Master Customer | Country | String | The country of the customer. |
| Master Customer | Age | Integer | The customer's age. |
| Master Customer | Gender | String | The customer's gender. |
| Order Item | Product ID | String | The unique identifier for the product. |
| Order Item | Order date | Timestring | The date that the order was placed. |
| Order Item | ExtendedPrice | Float | The amount paid by the customer after deducting discounts. |
| Order Item | Quantity | Integer | The quantity ordered. |
Model outputs
Output values will be stored in the Customer_pricepromotion data object.
| Attribute | Description | Data Type | Is Key attribute? |
|---|---|---|---|
| SourceCustomer_pricepromotionID | Automatically generated value that is the same as Customer ID. | String | Yes |
| SourceID | the unique identifier for the source. | String | Yes |
| SourceCustomerID | The unique identifier for the customer. | String | Yes |
| Recommendation Type | The "Product Price", represented as a static value. | String | No |
| ProductID | The unique identifier for the product. | String | No |
| ProductRank | The ranking of the recommended products. | Integer | No |
| Price_Min | The calculated minimum price for the customer. | String | No |
| Price_Max | The calculated maximum price for the customer. | String | No |
Create and use a Next Best Promotion model
To create and use a Next Best Promotion model, you will need to do the following:
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Follow the steps for Creating Next Best Promotion models.
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After creating the model, follow the steps for Running training and scoring jobs.
After the model runs and creates output values, you can do the following:
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Access Next Best Promotion data to review the values in the output attributes.
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Learn more about Using data science data for the specific needs of your organization.
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If needed, you can review the data science model details.