Market Basket Analysis in Everyday Life

Have you ever been in a grocery store and wondered why the aisles are laid out in this particular way? Or maybe, you've been scrolling on Amazon, wondering why the suggested items compliment the product in your cart, and you feel obligated to purchase this item. If any of these scenarios resonated with you, you have been subject to the practice of market basket analysis. Market basket analysis is the process of determining which items complement one another and go together. The goal is to entice you to purchase multiple complimentary items or services through discounts or special promotions. The method of market basket analysis is a data mining technique that is practiced in many different industries. Every segment is unique, and it is important to look at a variety of distinctly different markets to ensure we understand the whole story.