Product Affinity Analysis
The clustering and classifying techniques, association logics help in identifying the product affinities. This means one can understand which items are closely associated in terms of sales. By using the transactional data and the advanced statistical algorithms, proper market-basket analysis can be done. It helps the retail firms to strategically position the products based in the stores. It also supports them in creating combo offers. Coupled with the customer usage pattern, targeted personalized marketing is also possible.