An analysis of items frequently co-occurring in transactions is known as
A)market segmentation.
B)market basket analysis.
C)regression analysis.
D)cluster analysis.

Question

Quizplus · Accepted Answer

The analysis of items frequently co-occurring in transactions is known as market basket analysis. This is a technique used to reveal patterns of association between different products purchased or consumed by customers. Market basket analysis is often used in retail or e-commerce to identify product bundles, cross-selling opportunities, and customer behavior insights. Market segmentation is a different type of analysis that groups customers based on common characteristics or needs. Regression analysis is a statistical technique that explores the relationship between variables. Cluster analysis is a technique used to group similar objects or observations based on their attributes or characteristics.

An Analysis of Items Frequently Co-Occurring in Transactions Is Known