What is similar product in SAP CA-DDF-RT - Demand Data Foundation for Retail?

SAP Term: similar product

• Component: CA-DDF-RT

• Component Name: Demand Data Foundation for Retail

• Description: A product that is considered to be like another product based on specific criteria. The similarity between two products can be determined by comparing the product attributes and/or mining text-based resources such as product descriptions or a product information system. Example To forecast the demand for a new product without a sales history, a similar product that has a sales history can be used as reference.

Smart SAP Assistant

• Key Concepts: 
  Similar product is a term used in the SAP Demand Data Foundation for Retail (CA-DDF-RT) component. It refers to a product that is similar to another product in terms of its characteristics, such as size, color, or material. It can also refer to a product that is similar in terms of its price or availability. 
  
  How to use it: 
  Similar products can be used to identify products that are similar in terms of their characteristics, price, or availability. This can be useful for retailers who want to identify products that are similar to those they already have in stock, or for customers who are looking for a specific type of product but don’t know exactly what they want. 
  
  Tips & Tricks: 
  When using the similar product feature, it’s important to remember that the results may not always be exact matches. It’s important to take into account other factors such as availability and price when making decisions about which products to purchase. 
  
  Related Information: 
  The SAP Demand Data Foundation for Retail (CA-DDF-RT) component also includes features such as product recommendations and customer segmentation. These features can help retailers identify products that are likely to be popular with their customers and target specific customer segments with tailored offers.