Don’t be afraid of a basket case
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Market Basket Analysis or Affinity Analysis is one of the most common and useful types of data analysis for marketing and retailing. The goal is to determine what products customers purchase together.
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![You’ll find neither beer
nor diapers in this short story… [*]
Don’t be afraid of a
basket case
Market Basket Analysis](https://image.slidesharecdn.com/appareto-market-basket-analysis-150312100221-conversion-gate01/85/Don-t-be-afraid-of-a-basket-case-1-320.jpg?cb=1426155570)
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Don’t be afraid of a basket case
- 1. You’ll find neither beer nor diapers in this short story… [*] Don’t be afraid of a basket case Market Basket Analysis
- 2. Customers buy combinations of items… buy buy buy buy scenario
- 3. Gather and prepare data for analysis… understand
- 4. Find rules for items bought together… model
- 5. Use rules to improve your service… buy buy buy deploy also ? “Customers who bought this item also…”
- 6. Takeaway Using data for items bought together We can analyze that and find patterns To improve service to your customers Leverage upselling + cross-selling potential understand > model > deploy Implement the relevant rules in a model
- 7. So, if you think you have a basket case We have the technical knowledge to help you Thanks for watching! interested? [*] and you’ll find out about beer and diapers too