Market-basket analysis with principal component analysis: An exploration

Kitty S Y Chiu, Wing Pong Robert Luk, Chun Chung Chan, Fu Lai Korris Chung

Research output: Journal article publicationConference articleAcademic researchpeer-review

2 Citations (Scopus)

Abstract

Market-basket analysis is a well-known business problem, which can be (partially) solved computationally using association rules, mined from transaction data to maximize cross-selling effects. Here, we model the market-basket analysis as a finite mixture density of human consumption behavior according to social and cultural events. This leads to the use of principle component analysis and possibly mixture density analysis of transaction data, which was not apparent before. We compare PCA and association rules mined from a set of benchmark transaction data, to explore similarities and differences between these two data exploration tools.
Original languageEnglish
Pages (from-to)300-305
Number of pages6
JournalProceedings of the IEEE International Conference on Systems, Man and Cybernetics
Volume3
Publication statusPublished - 1 Dec 2002
Event2002 IEEE International Conference on Systems, Man and Cybernetics - Yasmine Hammamet, Tunisia
Duration: 6 Oct 20029 Oct 2002

Keywords

  • Association rules
  • Market-basket
  • Mixture density
  • PCA

ASJC Scopus subject areas

  • Control and Systems Engineering
  • Hardware and Architecture

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