Karteikarten
Market-basket Analysis
Karten in diesem Stapel (4)
- 1What is market-basket analysis?A data mining technique used to determine sales patterns
- 2What are the different variables?Probability, Support, Confidence, Lift
- 3What do each of the variables mean?Probability (Chance a customer will buy product A)
Support (the probability that a customer will buy two items (A & B) together)
Confidence (probability that customer buys B, given that they already bought A)
Lift (ratio of confidence to the base probability of just buying items) - 4What does it mean if confidence and lift are both high for two products?There is an opportunity for cross-selling
Informationen
- Beschreibung
- INFS1000 Karteikarten am Market-basket Analysis, erstellt von Andrew Aiello am 20/11/2019.
- Erstellt von
- Andrew Aiello · Nov 2019
- Aktualisiert
- 20 Nov 2019
- Aufrufe
- 2
- Bewertung
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