1. A concept that is applicable in the retail industry.

Market Basket
2. Data mining technique used by retailers to increase sales by better understanding customer
purchasing patterns. It involves analyzing large data sets, such as purchase history, to reveal
product groupings, as well as products that are likely to be purchased together. Concept of
Market Basket Analysis
3. This data is used to calculate a variable. Lift
4. This is the breaking the market into distinct subsets of customers. Market segmentation
5. This analysis starts by basically asking three questions about each customer. Recency, Frequency,
and Monetary Value
6. This can help us to predict whether a customer will buy my brand or not. Modeling consumer
choices
7. These are short-term inducements designed to have a direct impact on the buying behavior of
end users and trade. We can model incremental sales to assess its impact. Sales promotions
8. Companies spend money on advertising to impact sales. By modelling the sales response
function, we can compute the causal impact of advertising. Advertising Analytics
9. This is a part of customer relationship management. CLV
10. This is cross-selling, bundling, recommendation. Customer Expansion