Acquisition pattern analysis for evolutionary database marketing

Abstract

Insight into the order in which clients acquire products can be important for determining relevant cross-sell offers for the firm's clients and for the development of long-term relationships with clients. Acquisition pattern analysis studies the prototypical orders in which products are acquired. However, previous studies into acquisition patterns were based on survey data. This paper investigates the applicability of acquisition pattern analysis to transactional data, the most commonly available data in business settings.

Keywords:

• evolutionary database marketing
• transactional data
• survey data
• cross-sell
• financial services
• acquisition pattern analysis