Market basket analysis in marketing

This laboratory work is dedicated to the analysis of the consumer basket based on a dataset from The Bread Basket bakery located in Edinburgh. The dataset contains 20,507 records, over 9,000 transactions, and 4 columns.

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Name: Market basket analysis in marketing
Price: Free CAD
Rating: 4.9 (78 reviews)
Author: kateryna_hazdiuk, yaroslav_vyklyuk_2

All modern companies, including online stores, analyze customer transactions and based on them form a consumer basket, which is essentially a set of popular products that are purchased together. This basket can be used for planning marketing campaigns, including creating purchase recommendations or product assortments, shelf placement in supermarkets, or creating promotional offers.

Market basket analysis is a powerful marketing tool for transforming vast amounts of customer transactions into simple, easily visualized rules used for product promotion and building sales recommendations.

In this lab work, we will learn to conduct a consumer basket analysis using both classical data visualization methods and the apriori algorithm, standard indicators, association rules, aggregation, and pruning. We will also learn to visualize association rules as a dynamic graph.

Offered By: IBM

Market basket analysis in marketing

At a Glance