Business Analytics Powered by Market Basket Analysis

Market Basket Analysis is a data modeling technique which leverages large amounts of customer transaction data to find associations between items or events by determining the likelihood for them to occur together. Market Basket Analysis results in a better understanding of your customers and their buying behavior, allowing you to predict the likelihood of a future customer response based on associations, and ultimately tailor your marketing and sales strategies and operations for improved performance. Market Basket Analysis is applicable in many industries and across use cases, many of which this whitepaper will illustrate and define.