What is market basket analysis examples?

Question

Can anyone tell me the examples of market basket analysis?

Answer 1

I have listed the examples of Market Basket Analysis (MBA) examples are:

• In Retail Industry, MBA is used to identify the relationship between the items by analyzing transactional data of customers
• In the manufacturing industry, MBA is used for predictive analysis of equipment failure
• In the pharmaceutical industry, MBA is used to discover the relationships among diagnosis and pharmaceutical active ingredients given to different patients.
• In the finance and banking industry, MBA is used for fraud detection based on credit card usage data

You can sign up for these Data Science online courses by Intellipaat to learn Market basket analysis, recommendation systems and also how to implement them.

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