Gain Value From Market Basket Analysis

By Jim Mattecheck, 1010data.

Point of sale transaction logs (POS tlogs) have long been proclaimed the "holy grail" of retail information. While true, the most valuable part (e.g. the market basket) has not been systematically tapped into. For most, the status quo of data warehousing and reporting has been adequate for SKU-by-store-level analysis, although expensive and cumbersome.

These systems do not go far enough, deep enough, or fast enough to satisfy the evolving needs of the strategic retailer. Therein lies the challenge.