Market Basket

Market Basket - Market Basket is the reference to research that provides the retailer with information to understand the purchase behavior of a buyer. This information will enable the retailer to understand the buyer's needs and rewrite the store's layout accordingly, develop cross-promotional programs, or even capture new buyers, much like the cross selling concept. An early illustrative example for this was when one supermarket chain discovered in its analysis that customers that bought diapers often bought beer as well, have put the diapers close to beer coolers, and their sales increased dramatically. This type of analysis is an example of data mining.