Market Basket Analysis
Video Duration: 15:59 minutes.
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Would you want to know what a member is likely to purchase from you?
How about after they make their first purchase, what they're likely to purchase and when?
Would you want to know what physical workshops you used to do in person should you convert to eLearning courses?
Market basket analysis is really useful for identifying relationships between products that aren't obvious. It allows you to identify which products belong together which products have cross-promotional opportunities. This is really important when relationships among products are infinitely less obvious, we now can identify relationships between products that don't necessarily fall into that obvious connection.
NAFSA: Association of International Educators is the world's largest nonprofit association dedicated to international education and exchange, working to advance policies and practices that ensure a more interconnected, peaceful world today and for generations to come.
Kyle and Greg explain Market Basket Analysis.
KyleContrata, Director, Data Science and Event Technology at Association of International Educators. Kyle is a power user of the Microsoft Power BI, creating real-time content with real-time data with Acumen the purpose-built Association Analytics platform.