Uncovering Hidden Patterns: An Exploration of Market Basket Analysis in Retails

Abstract

MBA stands for market basket analysis, a mathematical modelling technique used to analyze customer purchasing patterns and identify trends in transactional data. Retailers can increase sales and customer satisfaction by employing an MBA to better understand their consumers' purchasing patterns and develop targeted marketing strategies. The method concentrates on descriptive analysis of customer purchases, items bought in tandem, and highly purchased units in order to facilitate reordering and guarantee appropriate product stock. By creating association rules, correlations are determined and frequent item sets are discovered through data analysis.