A Survey on Data Mining Algorithm for Market Basket Analysis
Association rule mining identifies the remarkable association or relationship between a large set of data items. With huge quantity of data constantly being obtained and stored in databases, several industries are becoming concerned in mining association rules from their databases. For example, the detection of interesting association relationships between large quantities of business transaction data can assist in catalog design, cross-marketing, lossleader analysis, and various business decision making processes. A typical example of association rule mining is market basket analysis. This method examines customer buying patterns by identifying associations among various items that customers place in their shopping baskets. The identification of such associations can assist retailers expand marketing strategies by gaining insight into which items are frequently purchased jointly by customers. It is helpful to examine the customer purchasing behavior and assists in increasing the sales and conserve inventory by focusing on the point of sale transaction data. This work acts as a broad area for the researchers to develop a better data mining algorithm. This paper presents a survey about the existing data mining algorithm for market basket analysis.
