What Is Market Basket Analysis?
Market basket analysis (MBA), also called product affinities, association analysis and association mining, is a marketing technique that facilitates the study of customer purchase trends together with the promotion and pricing of certain products. It reveals how purchase patterns shift with time and helps retailers understand product-timing dependencies, such as holiday or seasonal purchase trends. The purpose of a market basket analysis is to find dependencies and relationships between various retail products, on the basis of which retailers arrange catalog or shelf items, design promotions and build cross-marketing strategies.
I do not have an example to offer you but a Market Basket Analysis is sort of built into the QlikView Technology by default. In QlikView when you click on one item in a table box only those items that are correlated in the other table boxes will be available.
Say you want to know how many people who bought a box of cereal also purchased milk. If you have three table boxes, Grocery Product #1, Grocery Product #2 and Customers... when you select #1-Cereal, #2 Milk... The Customer box will already display those customers who bought both.
There is a lot of information online about Market Basket Analyses, I hope that was even remotely helpful.
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