Abstract
The foundation of every business model is a deep understanding of the customers’ preferences. Basket analysis can be used to reveal valuable insights into these preferences by analyzing massive transactional data sets that are nowadays available to bricks-and-mortar retailers. Within this contribution we review some of the requirements and mathematical methods that comprise the term basket analysis. Further, we discuss applications that leverage the discovered information and outline some of the challenges that the authors faced when applying basket analysis techniques in practice.
Keywords
- Basket analysis
- Data analysis
- Descriptive statistics
- Offline retail
- Shopping cart analysis
- Shopping behavior
An adaption of this contribution has been originally printed as Moldenhauer, C., Lange, V., Schmidt, J., Bosch, N. (2017): Warenkorbanalyse: Kaufverhalten der Kunden mit mathematischen Modellen analysieren, Der Controlling Berater, Journal Volume 51, pp. 205–220.
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- 1.
Aggarwal (2016): see for a technical introduction.
- 2.
Talluri and Van Ryzin (2004).
- 3.
- 4.
Ferreira et al. (2016), pp. 69–88.
- 5.
Hastie et al. (2009): see Sect. 14.3. for an introduction.
- 6.
Hastie et al. (2009): see Sect. 14.5.
- 7.
Hastie et al. (2009): see Sect. 14.3.
- 8.
Agrawal et al. (1993), pp. 207–216.
- 9.
Hastie et al. (2009): see Sect. 14.2.2.
- 10.
Aguinis et al. (2013), pp. 1799–1824.
- 11.
- 12.
Brockwell and Davis (2016): see Sect. 1.5 for an introduction.
- 13.
Simon (2015).
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Moldenhauer, C., Zwirnmann, H. (2019). Basket Analysis in Practice: Mathematical Models and Applications in Offline Retail. In: Buttkus, M., Eberenz, R. (eds) Performance Management in Retail and the Consumer Goods Industry. Springer, Cham. https://doi.org/10.1007/978-3-030-12730-5_24
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DOI: https://doi.org/10.1007/978-3-030-12730-5_24
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