In the first chapter, we defined time series and spoke about their merits. In this chapter, we will expand our understanding of time series data and whether it can be transformed to extract more insights by conducting a couple of other analysis methodologies not yet introduced in this book. We will leverage market basket analysis and segmentation using clustering to solve business problems. Both methodologies help generate insights from products and services that customers have bought.
We will be covering the following topics:
- The role of market basket analysis and segmentation via clustering
- A market basket business problem, data preparation, assumptions, and analysis
- A segmentation business problem