Market Basket Analysis – It’s not just for groceries
Beer and diapers – it’s a data mining legend. The notion is that, a young father, sent to the store to pick up diapers, avails himself of the opportunity to also grab a case of beer. Discovering these associations is one of the earliest applications in large data set mining. Retailers presumably could sift through data to find these previously unknown relationships to boost sales.
Our colleague, Bill Qualls, points out that Market Basket Analysis is not just for grocery retail data. Read the attached paper (MWSUG-2013-AA07), presented at the 2013 Midwest SAS User Group Conference, which mentions how we have applied these algorithms to workplace safety analytics.
And check out our website to learn more about how Predictive Safety Analytics can impact safety at your company.