How to do Behavioral Analysis in Alteryx?

Understanding customers helps a lot while doing business with them. Knowing their patterns and their needs, we can customize the product line accordingly and suggest products to them making a win-win situation for all.

Alteryx provides a set of tools in doing behavioral analysis with customer data. It allows to create profiles on a dataset, compare them and analyze their buying behaviour. It uses Solo cast engine which can be obtained from Alteryx by subscription.

Solocast engine is a state-of-the-art mining tool developed by Alteryx used for cluster coding and reporting on the behavioral analysis. It lets you understand customers, split them into demographic groups and use those groups to predict the customer buying behavior in that area.

Solocast is powerful since it provides:

Make analysis easy by providing step by step guide so that non-technical persons can work with customer data
Works with geo tools, like trade area, drive time polygons, thus making the analysis specific to any geographical location.
Can interactively filter customers from databases so that analysis can be done on key customer groups like customers who have a specific buying pattern

You create profile sets for analysis in the Alteryx. Profile sets consists of profiles and profiles are objects that can be anything which is assigned a segmentation code. This assigned segment code makes one capable of quantifying the likelihood of a product being successful in a geographical area.

The created profile sets can also be compared with another cluster database and Solocast finds out similarities and differences between the profiles from two datasets and assigns a correlation score. This correlation score is an evaluation of the market potential.

By comparing databases like address, products and sales information we can find how many potential customers are present. The solution can be derived in terms of how many households or orders or revenue that can be generated.

Alteryx provides 10 tools to work with the Solocast engine and all the tools require Solocast subscription. Let’s see what each tool does: