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Employing market basket analysis effectively

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J
jutti
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Employing Market Basket Analysis Effectively Case Study : Large Retail Grocery Chain in the US Source : Mercury Analytics Inc.
Business Question Identify areas of lost opportunity by isolating key market baskets for categories that are often shopped together
Challenge Statistical tools presently available in the market (including SAS EM) are not technically designed to answer this business problem Large transactional databases pose both opportunity as well as challenges in terms of data mining for identifying hidden patterns of shopping behaviors
Analysis findings By fixing the problem associated with the main item in the basket, all the complementary items within the basket started trending upwards.
Potential Sales Impact When this simple yet not so widely used technique is applied across all categories; net incremental sales gain was measured to the tune of 300 million dollars annually
Additional Info. For additional details contact juttim@gmail.com

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Employing market basket analysis effectively

  • 1. Employing Market Basket Analysis Effectively Case Study : Large Retail Grocery Chain in the US Source : Mercury Analytics Inc.
  • 2. Business Question Identify areas of lost opportunity by isolating key market baskets for categories that are often shopped together
  • 3. Challenge Statistical tools presently available in the market (including SAS EM) are not technically designed to answer this business problem Large transactional databases pose both opportunity as well as challenges in terms of data mining for identifying hidden patterns of shopping behaviors
  • 4. Analysis findings By fixing the problem associated with the main item in the basket, all the complementary items within the basket started trending upwards.
  • 5. Potential Sales Impact When this simple yet not so widely used technique is applied across all categories; net incremental sales gain was measured to the tune of 300 million dollars annually
  • 6. Additional Info. For additional details contact juttim@gmail.com