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Basket Analysis

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Basket Analysis which is the science of looking for combinations of things that frequently occur together.  Nextanalytics provides an ideal environment for this kind of analysis and reporting.

Start with a SQL query to get the data (as shown below).  In the case of Basket Analysis, one would usually start with a specific key PRODUCT in mind. Thus, we'll assume the user supplied the value "After Eight."  Our SQL query returned a list of products purchased with "After Eight".

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Nextanalytics creates a crosstab by swapping the WEEK to the columns. (for more info on why this is cool, click here). This crosstab shows how many items were sold each week

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Nextanalytics easily computes summary columns, e.g.:

  1. add a column that shows the sum of the values across the row; or 
  2. add a column that shows the row average, median or maximum. 

This crosstab shows the quantities on a weekly basis.  As a marketer, you could be watching for response to promotional activity or an external influence.

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It's not done in this example, but Nextanalytics also allows you to easily re-calculate so that outliers(unusual values) are more evident:

  1. show values as a percent of the row average, median, min, max, or sum; or
  2. show values as quartile ratings; or
  3. show values as the number of standard deviations from the average.

Continuing the analysis, Nextanalytics allows you to count, for each product and for each week, how many times only 1 was purchased with 'after eight' each week, how many times 2 were purchased, and so on. 

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This example has shown how to extend basic Basket Analysis into some so much more useful.  All the foregoing operations were quite simple and only took a few minutes to produce.