Market Basket Analysis

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Overview

Market Basket Analysis is a data-driven technique used in retail and e-commerce to uncover patterns of co-occurring items in transactions. It aims to identify relationships between products that are frequently purchased together, providing valuable insights for product placement, cross-selling, and marketing strategies.

The dataset provided contains transactional data, with columns representing:

• BillNo: A unique identifier for each customer’s bill.
• Itemname: The name of the purchased item.
• Quantity: The quantity of the item purchased.
• Price: The price of each item.
• CustomerID: A unique identifier for each customer.

Objectives

Perform a Market Basket Analysis on the given dataset to discover associations between purchased items. Specifically, the goal is to identify:

• Which items are frequently purchased together by customers.
• The strength of these associations (e.g., support, confidence, lift).