Basket Analysis is one of the most common and useful types of data analysis for marketing and retailing. The purpose of basket analysis is to determine what products customers purchase together. It takes its name from the idea of customers throwing all their purchases into a basket during shopping. Knowing what products people purchase as a group can be very helpful to a retailer or to any other company.
Basket Analysis offers you the ability to find product association. Allowing you to strategically place complementary products together. Knowing that a customer will be more inclined to purchase an item because of an item they originally only wanted will produce increased sales.
Internal and External Effects of Retail Business Intelligence