What is Market Basket analysis?

Question

Could anyone explain about Market Basket analysis?

Answer 1

Market basket analysis (MBA) is a method commonly used in the retail industry to find the patterns and associations between the items. This method looks for the combinations of items that are bought together by analyzing transactional data. In short, the Market Basket analysis approach is used to understand which items are more correlated i.e. which items are bought together frequently. By using this method, we can find those products and keep those products closer in the store.  

You can register for these Data Science courses by Intellipaat to learn Market basket analysis and other recommendation systems along with hands-on experience with projects.

You can watch this video to more about the Market basket analysis and also its implementation: