Product recommendations
What is a "Product recommendation" in the Nethansa Platform?
Product recommendations is a functionality that optimizes product purchase when you have a limited budget. The process of selecting optimal set (basket) of products is based on predictions of sales potential and the data on current inventory. The result is a generated sheet containing data on which products should be restocked.
What is needed to use the Product recommendations?
In order to use the Product recommendations function, you need products in the Nethansa Platform with an "active" or "inactive out of stock" status, where stock is lower than the sales potential. In addition, a purchase cost must be defined for the products selected for analysis, and an assumed budget for restocking is necessary. The budget is given in the base currency supported by the Nethansa Platform.
How to start the Product recommendations
Go to the PRODUCTS tab, select the products of interest with the checkbox on the left.
Note: the maximum number of products that can be sent for Product recommendations analysis at one time is 2000.
After selecting the desired products, click on the Bulk action box, and then on Product recommendations and select Apply.
Enter the amount of your purchasing budget, which must be between the values of 1 and 1,000,000 units expressed in base currency. The system will verify whether all products contain purchase cost so that they can be included in the analysis.
After clicking Get Analysis, follow the prompts on screen:
At this point, the task will go to our algorithm, and an excel file will be generated in response, which will appear in a bell on the top bar of the panel. The file will contain information about all the products sent for analysis, along with information on quantity we suggest restocking, and additional information such as status at the time the analysis was performed, sales potential and the number of markets with potential greater than 0.
Description of the data available in the report
| Column | Description |
|---|---|
| External ID | Unique product identifier in the Nethansa Platform |
| Product name | Product name (name in the Product tab) |
| Status | Analysis execution status: Success - Product is eligible for inclusion in Product recommendations |
| Current stock q-ty | Product inventory at the time of analysis |
| Product Cost | The cost of the product in the system at the time the analysis was performed |
| Potential | What is the sales potential of the product assuming that the product is available for sale in individual markets. |
| Suggestion to add stock | Suggested number of products to purchase based on market conditions on each marketplace at the time the analysis was performed. |
| amazon.com.be; amazon.de; amazon.es ... | Data for individual marketplaces / Amazon marketplace, where 'True' indicates sales potential in a given marketplace greater than 0. |