[Market Simulation] MS-195 Repeat Purchases

Shows how to simulate Customers repeatedly buying a single Product from a Category during a single shopping trip. The Law of Diminishing Marginal Utility states that after a Customer purchases a Product they are less likely to purchase the same Product again at the same time. But in this case, while Customers may continue to buy the same Product multiple times, they will not buy a different Product from the same Category. For example, Customers buying non-food consumable Products (such as toothpaste, soap, batteries, or light bulbs) will stock-up by buying only the same Product during a single shopping trip.

Uses the KNIME Extension: Market Simulation by Scientific Strategy - Community Edition

A comprehensive description of this workflow with step-by-step instructions can be found at the Scientific Strategy website:
https://scientificstrategy.com/ms-195/

External resources

• [Market Simulation] MS-195 Repeat Purchases