Databases Reference
In-Depth Information
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fIGure 2.1
Market basket scope analysis logic.
responses and outcomes? For all the desired responses and outcomes,
what are the available actions?
The logic of Market Basket Analysis is a pattern. The three parts of that
pattern are a Driver Object, a Correlation Object, and their Aἀ nity (i.e.,
probability to occur simultaneously). The purpose of the Market Basket
Analysis pattern is to provide actionable information to the enterprise.
The Driver Object identifies the actions of the enterprise or the environ-
ment variables known by the enterprise. The Correlation Object identi-
fies the response or outcome. The Aἀ nity identifies the probability the
Correlation Object will occur. These three parts of the Market Basket
Analysis logic statement provide the enterprise information to help
improve its understanding of the interactions between the enterprise and
the business environment. Market Basket Analysis cannot replace the
decision-making process of the enterprise. Rather, Market Basket Analysis
can identify the probable response by others in the business environment
to each option available to the enterprise. The decision-making process is
not replaced; rather it is enhanced by Market Basket Analysis.
outside the Basket
The concept of thinking outside the basket can be seen in recent changes
made to restaurant menus. A r ecently adopted practice in restaurant
menus is that of suggesting a wine that best accompanies a specific entrée.
From a marketing perspective, this is simultaneously product placement
and genius. It is product placement because the menu places a wine selec-
tion in front of the customer. It is genius because most restaurant custom-
ers are not wine connoisseurs and do not know how to match a wine with
an entrée. By suggesting a specific wine for a specific entrée, a customer is
able to choose that wine, which has a much higher profit margin than beer
or a soft drink, with complete confidence in the chosen wine selection.
How is this thinking outside the basket in Market Basket Analysis?
Obviously, someone examined the meals purchased, noting the entrée and
wine permutations. For the number of entrée selections that would have
