Market basket analysis is a kind of:
A) Cluster Analysis
B) Association Detection Analysis
C) Statistical Analysis
D) All of these choices are correct.

Question

Quizplus · Accepted Answer

Market basket analysis is a type of association detection analysis, which seeks to identify associations or relationships between products that customers tend to purchase together. Cluster analysis involves grouping similar items together, and while market basket analysis may involve clustering in some cases, it is not the primary focus. Statistical analysis is a general term that encompasses a wide range of quantitative methods, but market basket analysis is specifically focused on identifying patterns of association between products. Therefore, the best choice is B, Association Detection Analysis.

Market Basket Analysis Is a Kind Of