Knowledge and Choice based Decision Trees for Manufactures

Abstract

With recent advances in data-driven analytics, and the resultant improved capabilities in working with huge datasets, strategic planning has become more complex for business units, and subsequently for the retail domain. The purpose of this study is to understand and define the hierarchy of decisions that leads to the purchase of consumer packaged goods. Consumers are driven by a much complex decision making process inside a store that finally leads to the purchase of a product. In this paper we are trying to emphasize on the consumer decision process and how it could be utilized by the retailers as well as the manufacturer to meet the needs of the customers. In a way it will help to make more successful sales conversion which in turn helps the manufactures of different products. The focus here is to capture the decision pyramid by using core statistical techniques.