DATABASE FUNDAMENTALS
DATA WAREHOUSING AND DATA MINING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Customer profiling
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Target marketing
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Customer requirement analysis
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Cross-market analysis
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Detailed explanation-1: -Association analysis is the task of finding interesting relationships in large datasets. These interesting relationships can take two forms: frequent item sets or association rules. Frequent item sets are a collection of items that frequently occur together.
Detailed explanation-2: -Association is a data mining technique that discovers the probability of the co-occurrence of items in a collection. The relationships between co-occurring items are expressed as Association Rules.
Detailed explanation-3: -Association analysis is an unsupervised data mining technique where there is no target variable to predict. Instead, the algorithm reviews each transaction containing a number of items (products) and extracts useful relationship patterns amongst the items in the form of rules.
Detailed explanation-4: -In market basket analysis, association rules are used to predict the likelihood of products being purchased together. Association rules count the frequency of items that occur together, seeking to find associations that occur far more often than expected.