Flashcards

Market-basket Analysis

Andrew Aiello INFS1000 Inglês 4 flashcards

Flashcards do conjunto (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

Descrição: INFS1000 FlashCards sobre Market-basket Analysis, criado por Andrew Aiello em 20-11-2019.
Criado por: Andrew Aiello · nov 2019
Atualizado: 20 nov 2019
Visualizações: 2
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