Project Definition Document Answers | Assessment Answer
Answer:
Market Basket Analysis is basically the analysis of transactional data using any of the Data Mining algorithms. Before knowing about the project it is very important to know what Data Mining is. Data Mining is the process of extracting knowledge hidden from large volumes of raw data. It automates the process of finding relationships and patterns in raw data and delivers the results that can be either utilized in a decision support system or assessed by human analyst.
This project is called a Market Basket Analyzer. At the technical level this project incorporates the implementation of data mining algorithm “Apriori Algorithm”. It will analyze the transactional database, that will be provided by the user and generate the combinations of products which can be offered along with a particular product.
Our proposed product will give the list of frequent item-sets purchased together and for the analysis of item-sets we are using one of the data mining algorithm known as “Apriori Algorithm” knowing what products purchased together can be very helpful to managers. They can arrange their products accordingly to increase their profits. A store could use this information to place products frequently sold together into the same area.
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