Power BI: Market Basket Analysis Simplified: A Step-by-Step Guide
DescriptionThe video explains how to perform market basket analysis in Power BI, using sales data of over half a million items. Market basket analysis is a data mining technique used by retailers to understand customer purchasing patterns and increase sales. The process starts by importing the data into Power BI, and creating a duplicate of the existing table. Relationships between the two tables are created using the bill number field. In the report tab, a dashboard is created with a text box title and a list of items on the left. The item name field from the duplicate table is added and displayed as a bar chart, with the number of items on the X axis and the item name on the Y axis. The chart can be further improved by switching the bar chart from highlights to filter. The result of the market basket analysis is a visualization that shows the items that are most frequently purchased together.
#MarketBasketAnalysis #PowerBI #DataMining #RetailSales #DataVisualization #CustomerPurchasingPatterns #DataAnalysis #Dashboards #BusinessIntelligence
Market Basket Analysis,
Customer Purchasing Patterns,