A large retailer may take market basket analysis a step further. They may apply advanced algorithms to enormous data volumes to find relationships in data that cannot be easily seen. Producing statistics like support, confidence, and lift. By themselves, these statistics are not valuable. But, in the hands of a merchant, marketer, or the store operations team empowered with the Qlik platform, they can be used to make the most effective recommendations on promotional offers. This can also apply to tailored assortments, and placement of items within a store or on a digital property.
A great example of this is the Big Data Retail Market Basket Analysis Solution which features input from Cloudera, Bardess, Narrative Science, and Qlik as the Visual Analytics Platform. The end result is an elegant solution that combines large data volumes with statistics and intelligent predictive forecasts. It simply requires the merchant, marketer, or store operations professional to tap on the Qlik dashboard to make discoveries which fuel the holiday season.