Shirley Yearwood is an analyst at a retail outlet and is required to assess customer data to understand buying patterns of customers when they purchase multiple items. What analysis process will best help her to analyze purchasing habits of customers who bought gum boots along with umbrellas, ties along with shirts, and hair clips along with headbands among other related products?
A) online analytical processing
B) market basket analysis
C) what-if analysis
D) goal seeking analysis

Question

Quizplus · Accepted Answer

Market basket analysis is a technique that is used to understand the buying patterns of customers who purchase multiple items simultaneously. By analyzing the frequency of items being purchased together, retailers can identify relationships between different products and optimize product placement in stores or suggest items to customers for potential cross-selling opportunities. Online analytical processing (A) is used for interactive data visualization and drill-down analysis, while what-if analysis (C) and goal-seeking analysis (D) are used for decision-making and forecasting scenarios.

Shirley Yearwood Is an Analyst at a Retail Outlet and Is