A product network analysis for extending the market basket analysis

In this study, we propose a product network analysis, a network-based analysis to analyze a network-leveled relation among all products. Compared to market basket analysis, which focuses on the transaction-leveled relation between products, the suggested product network analysis focuses on extended network-leveled point of view of the relation between all products. For such a purpose, we suggest two kinds of product networks, market basket networks and co-purchased product networks. Two networks are comparatively evaluated to analyze the topological characteristics and the structure of those networks. The extended use of market basket analysis, network-leveled analysis are expected to be more effectively and efficiently used in personalized services, such as cross selling, up selling, and personalized product display utilizing the deep relation between products. (C) 2012 Elsevier Ltd. All rights reserved.