Market Basket Approach. The idea behind market basket analysis has emerged from customers who are buying and adding different products to their shopping cart or in a market basket. That is, to measure the changes in the value of money over time. One specific application is often called market basket analysis.
A useful (but somewhat overlooked) technique is called association analysis which attempts to find common patterns of items in large data sets. A market basket is a subset of products or financial securities designed to mimic the performance of a specific market segment.
Its most common use is to track the progress of inflation in an economy or specific market.
How does a market basket work? A market basket is a subset of products or financial securities designed to mimic the performance of a specific market segment. Market basket analysis is one of the key techniques used by large retailers to uncover associations between items. The first official site for market basket.
