UNCOVERING SHOPPING PATTERNS IN BIG DATA ENVIRONMENTS

Authors

Keywords
market basket analysis, association and sequential rule mining, sales transactions, big data analytics, shopper behavior analysis

Summary
In this study, we present the feasibility of applying selected algorithms to rapidly detect regular, common, and recurring patterns of shopping behavior for products or services purchased simultaneously and/or in some temporal sequence. Such analyses are often defined by the term „'market basket analysis“. The object of the present study is the analysis of large data sets of sales transactions observed across multiple individual acts of purchase, and the subject matter is the discovery of the capabilities of some numerical algorithms from the field of machine learning to detect hidden patterns in acts of purchase by processing data from individual customer „market baskets“. The goal is to convince the reader of the possibilities of extracting association rules from big data through demonstrations with publicly available open data. The exposition follows a „concept-to-application“ logic and consistently provides answers to the questions of „why“ it is necessary to do it, „what“ it is done with, and „how“ it is done. After a brief introduction to the logic and specifics of the most popular algorithms for discovering patterns by extracting association rules from large datasets, we provide detailed working procedures and instructions for analyzing and interpreting the analytical results. Finally, we provide a synopsis and provide guidelines and recommendations for using the analytical procedures in a marketing context.

JEL: M3, C8, C40
Pages: 1
Price: 2 Points

More titles

  • ANALYTICAL MODELS APPLICABLE IN ASSESSING THE FINANCIAL SUSTAINABILITY OF ENTERPRISE

    Forecasting the financial sustainability of enterprises is a priority problem in the context of modern economic and social conditions. Analytical models that are constructed through discriminant analysis provide an opportunity to predict financial sustainability. Their testing in our country would contribute both to the enrichment of the theory of ...

  • ADMINISTRATIVE CAPACITY FOR REGIONAL PLANNING IN THE CONTEXT OF INTEGRATED TERRITORIAL INVESTMENTS

    In recent years, regional policy at European Union level has entered a new planning paradigm, promoting the implementation of integrated territorial investment as a tool for intervention on the sustainable development of territories. In this regard, the study of the administrative capacity of regional planning is extremely relevant and useful. The ...

  • STATISTICAL DIMENSIONS OF THE DIGITAL ECONOMY

    The aim of the study is to evaluate the statistical dimensions of the digital economy in terms of cross-section and time-series analysis and assessment of the degree of convergence withinn EU countries. The research thesis is that statistical methods improve the possibilities for statistical assessment of the digital economy and assessment of the ...