Market Basket Analysis: Identify the changing trends of market data using association rule mining

Abstract

Market Basket Analysis (MBA) also known as association rule learning or affinity analysis, is a data mining technique that can be used in various fields, such as marketing, bioinformatics, education field, nuclear science etc. The main aim of MBA in marketing is to provide the information to the retailer to understand the purchase behavior of the buyer, which can help the retailer in correct decision making. There are various algorithms are available for performing MBA. The existing algorithms work on static data and they do not capture changes in data with time. But proposed algorithm not only mine static data but also provides a new way to take into account changes happening in data. This paper discusses the data mining technique i.e. association rule mining and provide a new algorithm which may helpful to examine the customer behaviour and assists in increasing the sales.