Question

Topic: Student Questions

Thesis Subject: Market Basket Analysis

Posted by Anonymous on 8/22/2006 at 5:14 AM ET 125 Points
Hi
This is Samira, I m studying Ecommerce and industrial Marketing
I'm interested to do my Master thesis in Market Basket analysis by Data Mining tools. But I'm really confused because market basket analysis by itself is something classic by itself and I want to do something new in this field.
So I can not define my thesis topic. What I need is what other related subjects to Market Basket analysis are or other advices that perhaps you have for me to define a good subject.
I'd appreciated if someone helps me.
Thanks
Samira
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RESPONSES

  • Posted by MANSING on 8/23/2006 at 3:37 PM Member
    Hi Samira,

    Go to the basic first:

    • Market Basket: A group of products or services in a specific market

    • Data Mining: It implies "digging through tons of data" to uncover patterns and relationships contained within the business activity and history.

    How can you inter –relate these two things and come with new subject. What exactly happening in this area? any thing new? Do you know any research we can do?

    Can we use some thing like –

    1. Does Market Basket analysis need new Data Mining tools?
    2. Critical analysis of Marketing basket and new data mining tools.
    3. The future of Data mining tools and market basket

    You should follow the website for better search.

    I hope this will help!

    Regards,

    M Bhor

    Web:

    1.https://www.eco.utexas.edu/~norman/BUS.FOR/course.mat/Alex/
    2. https://en.wikipedia.org/wiki/Data_mining
  • Posted on 8/27/2006 at 7:04 AM Author
    Hi
    first of all thank u MANSING,
    These subjects that you mentioned are good subjects but what i meant was find a new subject in market basket analysis beyond the classic ones and using DM just as a tools, for example finding a new keyword like CRM and coonect it to Market basket analysis
    I ll be glad if help me
    Regards
    Samira
  • Posted by steven.alker on 9/1/2006 at 11:50 AM Accepted
    I think that I’d have replied along the lines MANSING took were it not your clarification – you want a new angle to look at but one which is documented enough to produce enough background for a thesis.

    The latest area which is not new but has only recently become a publicised topic combines Basket Analysis, CRM and Data Mining.

    When it was introduced, the Tesco Club Card (A Loyalty card) was dismissed by its competitors as “Just another set of Green Shield Stamps” (A once successful reward system for loyal customers)

    It was much more because it not only rewarded loyal customers with redeemable points for their purchases but it built up a formidable demographic database on customer purchases – by item, by value, by location, by time and for the holder of the card, for the individual customer.

    The founder of the card, Clive Humby, founded Dunnhumby which still runs the Tesco Scheme and the potent combination of data collection, basket analysis, profiling and DM might just give you enough meat for rather a long dissertation.

    Just plonk Dunnhumby, Clive Humby, or Tesco Loyalty Card into Google and you’ll get the history, the latest, tons of figures and the most recent corporate developments for Dunnhumby.

    Their only weakness that I can see is a reliance on rather structured methods of data mining and a lack of utilizing Neural Approaches as offered by Neural Ware and the like.

    Regards


    Steve Alker
    Unimax Solutions



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