Lee Zhen Xi: Study on Market Basket Analysis for Inventory Management

This final year project by Lee Zhen Xi investigates the application of market basket analysis for inventory management, focusing on identifying customer buying behavior and optimizing product placement within a retail context. The project explores the use of data mining techniques, particularly association rule mining, to uncover relationships between items purchased together, mirroring real-world scenarios where understanding customer purchasing patterns can lead to improved sales and inventory control. The research addresses problem statements related to transaction analysis, time periods, and quantity assumptions, while posing research questions concerning customer buying behavior, business target segments, and strategic floor plans. The project aims to identify consumer buying behavior for decision processes, business target segments, and strategic floor plans to meet buyer needs and increase sales. The study also references real-world examples and the importance of data mining in making informed business decisions, with the goal of leveraging customer data to unlock new revenue streams and improve business performance through smart inventory management and targeted marketing.