Market Basket Approach. The idea behind market basket analysis has emerged from customers who are buying and adding different products to their shopping cart or in a market basket. Market basket analysis is a process of showing the correlation between the data with respect to support and confidence.
How does a market basket work? Market basket analysis is a useful tool for retailers who want to better understand the relationships between the products that people buy. A useful (but somewhat overlooked) technique is called association analysis which attempts to find common patterns of items in large data sets.
There are many tools that can be applied when carrying out mba and the trickiest aspects to the analysis are setting the confidence and support thresholds in the apriori algorithm and identifying which rules are worth pursuing.
That is, to measure the changes in the value of money over time. Market basket analysis is one of the key techniques used by large retailers to uncover associations between items. A useful (but somewhat overlooked) technique is called association analysis which attempts to find common patterns of items in large data sets. The first official site for market basket.
