A product network analysis for extending the market basket analysis

Authors:
Hyea Kyeong Kim;Jae Kyeong Kim;Qiu Yi Chen
Affiliations:
School of Management, Kyung Hee University, Seoul, Republic of Korea;School of Management, Kyung Hee University, Seoul, Republic of Korea;School of Management, Kyung Hee University, Seoul, Republic of Korea
Venue:
Expert Systems with Applications: An International Journal
Year:
2012

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Abstract

In this study, we propose a product network analysis, a network-based analysis to analyze a network-leveled relation among all products. Compared to market basket analysis, which focuses on the transaction-leveled relation between products, the suggested product network analysis focuses on extended network-leveled point of view of the relation between all products. For such a purpose, we suggest two kinds of product networks, market basket networks and co-purchased product networks. Two networks are comparatively evaluated to analyze the topological characteristics and the structure of those networks. The extended use of market basket analysis, network-leveled analysis are expected to be more effectively and efficiently used in personalized services, such as cross selling, up selling, and personalized product display utilizing the deep relation between products.