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The Art of Data-Driven Business

You're reading from   The Art of Data-Driven Business Transform your organization into a data-driven one with the power of Python machine learning

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Product type Paperback
Published in Dec 2022
Publisher Packt
ISBN-13 9781804611036
Length 314 pages
Edition 1st Edition
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Author (1):
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Alan Bernardo Palacio Alan Bernardo Palacio
Author Profile Icon Alan Bernardo Palacio
Alan Bernardo Palacio
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Table of Contents (17) Chapters Close

Preface 1. Part 1: Data Analytics and Forecasting with Python
2. Chapter 1: Analyzing and Visualizing Data with Python FREE CHAPTER 3. Chapter 2: Using Machine Learning in Business Operations 4. Part 2: Market and Customer Insights
5. Chapter 3: Finding Business Opportunities with Market Insights 6. Chapter 4: Understanding Customer Preferences with Conjoint Analysis 7. Chapter 5: Selecting the Optimal Price with Price Demand Elasticity 8. Chapter 6: Product Recommendation 9. Part 3: Operation and Pricing Optimization
10. Chapter 7: Predicting Customer Churn 11. Chapter 8: Grouping Users with Customer Segmentation 12. Chapter 9: Using Historical Markdown Data to Predict Sales 13. Chapter 10: Web Analytics Optimization 14. Chapter 11: Creating a Data-Driven Culture in Business 15. Index 16. Other Books You May Enjoy

Using the Apriori algorithm for product bundling

For now, we have focused on clients that are decreasing their purchases to create specific offers for them for products that they are not buying, but we can also improve the results for those that are already loyal customers. We can improve the number of products that they are buying by doing a market basket analysis and offering products that relate to their patterns of consumption. For this, we can use several algorithms.

One of the most popular methods for association rule learning is the Apriori algorithm. It recognizes the things in a data collection and expands them to ever-larger groupings of items. Apriori is employed in association rule mining in datasets to search for several often-occurring sets of things. It expands on the itemsets’ connections and linkages. This is the implementation of the “You may also like” suggestions that you frequently see on recommendation sites are the result of an algorithm...

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