APPLICATION OF DATA WAREHOUSE 1.

RISK MANAGEMENT Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives, whether positive or negative) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events[1] or to maximize the realization of opportunities. Risks can come from uncertainty in financial markets, project failures (at any phase in design, development, production, or sustainment life-cycles), legal liabilities, credit risk, accidents, natural causes and disasters as well as deliberate attack from an adversary, or events of uncertain or unpredictable root-cause. Several risk management standards have been developed including the Project Management Institute, the National Institute of Standards and Technology, actuarial societies, and ISO standards.[2][3] Methods, definitions and goals vary widely according to whether the risk management method is in the context of project management, security, engineering, industrial processes, financial portfolios, actuarial assessments, or public health and safety. Method For the most part, these methods consist of the following elements, performed, more or less, in the following order. 1. identify, characterize, and assess threats 2. assess the vulnerability of critical assets to specific threats 3. determine the risk (i.e. the expected likelihood and consequences of specific types of attacks on specific assets) 4. identify ways to reduce those risks 5. prioritize risk reduction measures based on a strategy Principles of risk management The International Organization for Standardization (ISO) identifies the following principles of risk management:[4] Risk management should:

create value resources expended to mitigate risk should generally exceed the consequence of inaction, or (as in value engineering), the gain should exceed the pain be an integral part of organizational processes be part of decision making explicitly address uncertainty and assumptions be systematic and structured be based on the best available information be tailorable

take into account human factors be transparent and inclusive be dynamic, iterative and responsive to change be capable of continual improvement and enhancement be continually or periodically re-assessed

2. FINANCIAL ANALYSIS Financial analysis (also referred to as financial statement analysis or accounting analysis or Analysis of finance) refers to an assessment of the viability, stability and profitability of a business, sub-business or project. It is performed by professionals who prepare reports using ratios that make use of information taken from financial statements and other reports. These reports are usually presented to top management as one of their bases in making business decisions.

Continue or discontinue its main operation or part of its business; Make or purchase certain materials in the manufacture of its product; Acquire or rent/lease certain machineries and equipment in the production of its goods; Issue stocks or negotiate for a bank loan to increase its working capital; Make decisions regarding investing or lending capital; Other decisions that allow management to make an informed selection on various alternatives in the conduct of its business.

Goals Financial analysts often assess the following elements of a firm: 1. Profitability - its ability to earn income and sustain growth in both the short- and longterm. A company's degree of profitability is usually based on the income statement, which reports on the company's results of operations; 2. Solvency - its ability to pay its obligation to creditors and other third parties in the longterm; 3. Liquidity - its ability to maintain positive cash flow, while satisfying immediate obligations; Both 2 and 3 are based on the company's balance sheet, which indicates the financial condition of a business as of a given point in time. 4. Stability - the firm's ability to remain in business in the long run, without having to sustain significant losses in the conduct of its business. Assessing a company's stability requires the use of both the income statement and the balance sheet, as well as other financial and non-financial indicators. etc

Methods Financial analysts often compare financial ratios (of solvency, profitability, growth, etc.):

Past Performance - Across historical time periods for the same firm (the last 5 years for example), Future Performance - Using historical figures and certain mathematical and statistical techniques, including present and future values, This extrapolation method is the main source of errors in financial analysis as past statistics can be poor predictors of future prospects. Comparative Performance - Comparison between similar firms.

These ratios are calculated by dividing a (group of) account balance(s), taken from the balance sheet and / or the income statement, by another, for example : Net income / equity = return on equity (ROE) Net income / total assets = return on assets (ROA) Stock price / earnings per share = P/E ratio Comparing financial ratios is merely one way of conducting financial analysis. Financial ratios face several theoretical challenges:

They say little about the firm's prospects in an absolute sense. Their insights about relative performance require a reference point from other time periods or similar firms. One ratio holds little meaning. As indicators, ratios can be logically interpreted in at least two ways. One can partially overcome this problem by combining several related ratios to paint a more comprehensive picture of the firm's performance. Seasonal factors may prevent year-end values from being representative. A ratio's values may be distorted as account balances change from the beginning to the end of an accounting period. Use average values for such accounts whenever possible. Financial ratios are no more objective than the accounting methods employed. Changes in accounting policies or choices can yield drastically different ratio values. (fundamental analysis).[1]

Financial analysts can also use percentage analysis which involves reducing a series of figures as a percentage of some base amount.[2] For example, a group of items can be expressed as a percentage of net income. When proportionate changes in the same figure over a given time period expressed as a percentage is known as horizontal analysis.[3] Vertical or common-size analysis, reduces all items on a statement to a common size as a percentage of some base value which assists in comparability with other companies of different sizes.[4] As a result, all Income Statement items are divided by Sales, and all Balance Sheet items are divided by Total Assets.[5]

Another method is comparative analysis. This provides a better way to determine trends. Comparative analysis presents the same information for two or more time periods and is presented side-by-side to allow for easy analysis.[6]

3. MARKETING PROGRAMS Designing Your Marketing Program A marketing program is a coordinated, thoughtfully designed set of activities that help you achieve your marketing objectives. Your marketing objectives are strategic sales goals that fit your strengths and are a good way to stretch your business in its current situation. In order to build strong customer relationships and maximize your sales, you need to put every possible marketing tool to work for you. Marketing is a broad field, encompassing elements as diverse as advertising, brand and logo design, sales calls, Web sites, brochures, packaging, shows, conferences and other events, and so on. The more tools, the better. But the variety and complexity of choices makes getting organized and focused hard. The Five Ps stand for the five broad areas (product, price, placement, promotion, and people) you can look to find ways to boost sales or accomplish other marketing goals as you build customer commitment to your brilliant products, services, or brands. Product To marketers, product is what you sell, whether it's a physical product or a service, idea, or even another person (like in politics) or yourself (like when you search for a new job). When you think about ways of changing your product offering to boost sales, you can look at anything from new or upgraded products to different packaging to added extras like services or warranties. And you can also think about ways to improve the quality of your product. After all, people want the best quality they can get, so any improvements in quality usually translate into gains in sales as well. Price To marketers, price is not only the list price or sticker price of a product, but it's also any adjustments to that price, such as discounts and any price-oriented inducements to buy, including coupons, frequency rewards, quantity discounts, and free samples. Any such offers adjust the price the customer pays, with the goal of boosting sales. Price-based inducements to buy are generally termed sales promotions by marketers, just to confuse the issue hopelessly. Placement Placement is where and when you present your product to customers. You have many options as to how you place the product in both time and space. Whether you're dealing with retail stores, catalogs, sales calls, Web pages, or 24-hour-a-day telephone services that can process customer orders, you're dealing with that placement P. If you want a feel as to how valuable this P is to the marketing mix, just think about how valuable shelf placement at your local grocery store is to, say, Coke or Pepsi. Imagine what

that placement is worth to the marketing of those products! Oh, by the way, marketers stretch a point by calling this third P "placement" because it's more conventional to call it "distribution." But that starts with a d, so it doesn't sound as good. However, just remember that when people talk about distribution, they're talking about placement, and vice versa. You'll hear one more term that relates to placement: logistics. Logistics is the physical distribution of products shipping and taking inventory, and all the fancy transportation and information technologies that can be harnessed to improve the efficiency and effectiveness of your distribution processes. So logistics is another useful path to go down when you want to think about where products should be placed for easy purchase. Distribution concerns where and when products are offered for sale, whereas logistics addresses how they get there. These are related concerns, of course, and so they both fall under the list of options when you want to think hard about placement. You can play around with either or both in your efforts to build stronger customer commitment. For example, if you add distributors and enhance your Web site to offer online ordering, you're boosting placement by enhancing both distribution and logistics to create more ways to get the product to customers. Promotion Promotion is all the sales activities, advertising, publicity, special events, displays, signs, Web pages, and other communications designed to inform and persuade people about your product. (Remember, please, that "product" simply means whatever you have to sell, be it an actual product, service, idea, or candidate.) Promotion is the face of marketing because it's the part that reaches out to ask customers for their business. It ought to be a visible and friendly face because you can't just tell people what to do and expect them to obey. Instead, promotion must find ways to attract prospective customers' attention long enough to communicate something appealing about the product. The goal of all promotions is to stimulate people to want to buy. Promotions need to be motivational. They also need to move people closer to purchase. Sometimes a promotion's goal is to move people all the way to purchase. That's what a socalled direct-response ad is supposed to do. A direct-response ad invites people to call, email, fax, or mail in their orders right away. Many catalogs use this strategy. Readers are supposed to select some items, fill in their order forms, and mail them in with their credit card numbers, for example. Other promotions do less. For instance, a 30-second television spot may be designed only to make people remember and like a brand so that they'll be a little more likely to buy it the next time they're in a store where it's sold. But all promotions work toward that ultimate sale in some way, and when you think about all the creative options for communicating with prospective customers, you should always be clear about what part of the customer's movement toward purchase your promotion is supposed to accomplish. People In most businesses, people are responsible for many aspects of product or service quality. Help them work better, and you improve the product. In fact, the personal connection between your people and your customers and clients may do the most for referral marketing a powerful marketing force where your customers serve as a sort of "mini"

sales force for you. They refer others to you because they've had a positive relationship with your people. In many businesses, people are directly responsible for the customer contacts through personal sales and service. And in all businesses, people are responsible for performing the many behind-the-scenes tasks and jobs that make offering products to customers possible. Businesses and other organizations are simply groups of people. Sure, sometimes they use lots of fancy machinery or computer equipment, but no organizations exist without people. Not a one. And so when you're looking for ways to improve your offerings or otherwise boost your sales, turning your attention to your own people is often profitable. There are many and, often surprising, connections between how employees feel and how customers feel. Sometimes, salespeople or service people say that they're frustrated because they have to deal with angry, uninformed, or otherwise difficult customers. If the employees feel this way about the customers, they tend to be negative (impatient, curt) with customers, which makes the customers even more difficult. The people side of marketing is certainly the least visible that's why people aren't traditionally included in the list of marketing Ps. But adding people to the list offers you another powerful lever for achieving your sales and marketing goals. 4. PROFIT TREND 5. PROCUREMENT ANALYSIS A penny saved is a penny earned. Ben Franklin's adage rings so true, particularly in purchasing. Every dollar procurement saves gets added to the profit's bottom line. In addition, procurement decisions often affect inventory levels, which in turn impact cash flow and inventory-related expenses. Unfortunately, procurement is typically driven by purchase orders and pre-set purchase levels or intervals. Thus, the procurement department does not have enough insight and knowledge while negotiating contracts, particularly long-term agreements where the leverage is highest. To optimize procurement decisions, consider implementing a business intelligence solution to get a full view of the organization and the larger purchasing picture. Such an analytics and reporting solution should lead to reducing duplicate orders, vendor consolidation, understanding vendor reliability, as well as increasing contract orders while reducing open market transactions. An analytical solution should be able to predict and reduce inventory levels, but not to levels which could potentially negatively impact productivity. This is a fine line to walk, and if crossed could severely impact productivity and easily wipe out any just-in-time (JIT) inventory savings (such as production facilities being shut down, or machines and workers sitting idle). In terms of vendor reliability, the solution should report on things such as complete and timely deliveries, quality of materials, and time and effort (i.e. cost) to resolution on

problematic orders. Only when this is understood and price is added to the mix can the "lowest cost" vendor truly be deduced. To use our just-in-time inventory example above, if a JIT order is triggered at a precise time, and the vendor does not deliver as specified, facilities and people may end up sitting idle. This would easily wipe out any savings achieved by laborious vendor contract negotiations. Sometimes purchasing is also in charge of managing inventory levels. If this is the case, purchasing needs to have a real-time understanding of material levels, surpluses, and turnover rates. Surpluses are particularly important because--particularly during times when market prices are in an upward motion--a surplus in one department may satisfy a shortage in another. This is why enterprise-wide visibility is so important. End-to-end visibility into the production process (including SCM and ERP) is important also because purchasing plays a key part on the front end of the supply chain. How fast is a particular material moving? Can you anticipate demand and cut inventory levels? As an organization grows, procurement often evolves from purchasing to vendor and inventory management. The impact can be subvstantial: stronger negotiating position and lower procurement costs adding to profits, and a better cash position freeing up cash for capital investments. 6. INVENTORY ANALYSIS Inventory analysis is the process of understanding the stock/product mix combined with the knowledge of the demand for stock/product. Definitions Initial demand per week Your initial expected demand per week. Annual growth rate What you expect your annual sales growth to be over the next year. Safety stock Expressed as a percent of your sales, this is the level of inventory you require as safety stock. This stock is used to protect against out of stock situations. Order lead time in weeks How long it takes an order for more inventory to be received into inventory. This calculator assumes orders arrive in one batch with a known lead time, arriving just as stock is exhausted. Starting inventory Amount of inventory you currently have on hand. Technique for determining the optimum level of inventory for a firm, it commonly employs one of the two formulas: (1) Inventory turnover = Cost of goods sold average inventory. (2) Number of day's sale in inventory = inventory at the end of an accounting period average daily cost of goods sold.

7. STATISTICAL ANALYSIS When planning an experiment it is essential also to know that the results can be analysed. Planing the statistical analysis is an integral part of planning the experiment. So these pages give a brief introduction to the main statistical methods of analysing designed experiments. Details are given in the sub-pages. What is a "statistical analysis" An experiment usually results in some means or proportion affected of different groups such as control and treated animals. Means will differ because each animal is different. Proportions affected could differ by chance. Means and proportions may also differ as a result of the treatment. The aim of the statistical analysis is to calculate the probability that differences as great as or greater than those observed could be due to chance. If this probability is high, then chance may be the explanation, if it is low then a treatment effect may be the explanation. These days the actual calculations are almost always done using a computer. Most measurement data where the aim is to compare means can be analysed using an analysis of variance (ANOVA), a t-test or a non-parametric method. Scores and proportions often use a chi-squared test, while dose-response relationships use regression analysis. Other methods may be needed when there are multiple outcomes. The methods described in the sub-pages give a brief introduction. Note that this page has five sub-pages accessed by clicking on more details. Return from the sub-pages by clicking on 11. Statistical analysis on the main navigation bar. The statistical analysis Data checking and summarisation The first step should always be to check the data once it has been entered into the computer. Any outliers or other doubtful observations should be identified and compared with the original data to ensure that they are not due to transcription errors. Outliers which seem to be valid data points should not be discarded at this stage, but their presence should be noted. More details The analysis of variance (ANOVA) and the t-test Given a set of means (say from a number of treatment groups) the ANOVA will calculate the probability that the observed or greater differences among them could have arisen by chance sampling variation. The ANOVA does not indicate which mean differs from which, assuming that there are more than two means. This has to be assessed either by extensions of the ANOVA itself or by using post-hoc comparisons.

The ANOVA and Student's t-test are often the best way of analysing quantitative (i.e. measurement) data , provided certain assumptions are met. When there are only two treatment groups the ANOVA and the t-test are mathematically identical, but the ANOVA will also accommodate more than two groups and more complex designs involving blocking and additional factors. The t-test is not discussed here as the ANOVA can replace it. In some cases a scale transformation is necessary in order for the assumptions required for a valid ANOVA are met. This is also covered in the section. More details Regression This method is used when the aim is to study a causal relationship between two variables, such as in obtaining a dose-response relationship. More details Non-parametric methods Where there is measurement data, but the variation is clearly not the same in each group and the residuals do not have a normal distribution and a transformation of scale does not correct this, then a non-parametric statistical method may be appropriate. More details. Counts and proportions Discrete data giving rise to counts and proportions can not be analysed using the above two methods. Such data can usually be analysed using a chi-squared test or a normal approximation. More details 8. CLAIMS ANALYSIS Facts: Lifecycle stage: Planning, Feasibility Contributors: Chauncey Wilson, Nigel Bevan Version: 1/2010 Claims analysis is a technique for examining the positive and negative consequences of design features that are described in current or future scenarios of use. A "claim" is a statement of the consequences of a specific design feature or artifact on users and other stakeholders. The criteria for determining whether claims are positive or negative for a particular scenario include:

Attributes of the target user groups

Theories from cognitive psychology Human-computer interaction (HCI) research, principles and guidelines Domain knowledge Environmental factors

9. MANUFACTURING OPTIMIZATION Most products must meet highly specific requirements. For example, products must be acceptable with regard to strength, dimensional values, optics, appearance, roundness, torque, weld integrity, and so on. Often, manufacturing operations have difficulties achieving these product performance targets due to excessive variation in materials, equipment, human operations, the environment, etc. In other cases, a manufacturer does not know the optimal values for production settings such as equipment speeds, pressures, temperatures, cycle times, and loads. Integral Concepts works with manufacturing personnel to quickly identify optimal operating settings. Furthermore, we help manufacturers understand which sources of variation are most important to control. Using sensitivity analysis, we identify how small changes in operating settings impact the performance of products. The immediate savings we provide usually range from hundreds of thousands to millions of dollars. Our areas of expertise include:

Design of Experiments Response Surface Methods Multi-Response Optimization Statistical Process Control Control and Reaction Plans Data Analysis Statistical Modeling

10. CUSTOMER RELATIONSHIP MANAGEMENT Customer relationship management (CRM) is a widely implemented model for managing a companys interactions with customers, clients, and sales prospects. It involves using technology to organize, automate, and synchronize business processesprincipally sales activities, but also those for marketing, customer service, and technical support.[1] The overall goals are to find, attract, and win new clients; nurture and retain those the company already has; entice former clients back into the fold; and reduce the costs of marketing and client service.[2] Customer relationship management describes a company-wide business strategy including customer-interface departments as well as other departments.[3] Measuring and valuing customer relationships is critical to implementing this strategy.[4] Benefits of Customer Relationship Management

A Customer Relationship Management system may be chosen because it is thought to provide the following advantages:[citation needed]

Quality and efficiency Decrease in overall costs Decision support Enterprise ability Customer Attentions Increase profitability Improved planning Improved product development

APPLICATION OF DATA MINING 1. MARKET SEGMENTATION A market segment is a classification of potential private or corporate customers by one or more characteristics, in order to identify groups of customers, which have similar needs and demand similar products and/or services concerning the recognized qualities of these products, e.g. functionality, price, design, etc. An ideal market segment meets all of the following criteria:

It is internally homogeneous (potential customers in the same segment prefer the same product qualities). It is externally heterogeneous (potential customers from different segments have basically different quality preferences). It responds similarly to a market stimulus. It can be cost-efficiently reached by market intervention.

The term segmentation is also used when customers with identical product and/or service needs are divided up into groups so they can be charged different amounts for the services. A customer is allocated to one market segment by the customers individual characteristics. Often cluster analysis and other statistical methods are used to figure out those characteristics, which lead to internally homogeneous and externally heterogeneous market segments. Examples of characteristics used for segmentation:

Gender Price Interests Location Religion

Income Size of Household

While there may be theoretically 'ideal' market segments, in reality every organization engaged in a market will develop different ways of imagining market segments, and create Product differentiation strategies to exploit these segments. The market segmentation and corresponding product differentiation strategy can give a firm a temporary commercial advantage. 2. CUSTOMER CHURN Customer attrition, also known as customer churn, customer turnover, or customer defection, is a business term used to describe loss of clients or customers. Banks, telephone service companies, Internet service providers, pay TV companies, insurance firms, and alarm monitoring services, often use customer attrition analysis and customer attrition rates as one of their key business metrics (along with cash flow, EBITDA, etc.) because the "...cost of retaining an existing customer is far less than acquiring a new one."[citation needed] Companies from these sectors often have customer service branches which attempt to win back defecting clients, because recovered long-term customers can be worth much more to a company than newly recruited clients. Companies usually make a distinction between voluntary churn and involuntary churn. Voluntary churn occurs due to a decision by the customer to switch to another company or service provider, involuntary churn occurs due to circumstances such as a customer's relocation to a long-term care facility, death, or the relocation to a distant location. In most applications, involuntary reasons for churn are excluded from the analytical models. Analysts tend to concentrate on voluntary churn, because it typically occurs due to factors of the company-customer relationship which companies control, such as how billing interactions are handled or how after-sales help is provided. When companies are measuring their customer turnover, they typically make the distinction between gross attrition and net attrition. Gross attrition is the loss of existing customers and their associated recurring revenue for contracted goods or services during a particular period. Net attrition is gross attrition plus the addition or recruitment of similar customers at the original location. Financial institutions often track and measure attrition using a weighted calculation called Recurring Monthly Revenue (or RMR). In the 2000s, there are also a number of business intelligence software programs which can mine databases of customer information and analyze the factors that are associated with customer attrition, such as dissatisfaction with service or technical support, billing disputes, or a disagreement over company policies. More sophisticated predictive analytics software use churn prediction models that predict customer churn by assessing their propensity of risk to churn. Since these models generate a small prioritized list of potential defectors, they are effective at focusing customer retention marketing programs on the subset of the customer base who are most vulnerable to churn.

3. FRAUD DETECTION In criminal law, a fraud is an intentional deception made for personal gain or to damage another individual; the related adjective is fraudulent. The specific legal definition varies by legal jurisdiction. Fraud is a crime, and also a civil law violation. Defrauding people or entities of money or valuables is a common purpose of fraud, but there have also been fraudulent "discoveries", e.g., in science, to gain prestige rather than immediate monetary gain. A hoax also involves deception, but without the intention of gain or of damaging or depriving the victim. 4. INTERACTIVE MARKETING Interactive Marketing - Site Stickiness 1. Understanding the user's behaviour is important in the design of the website itself. This is referred to as site stickiness. 2. A user constantly makes judgements about the value of continuing or abandoning a visit to a website; these judgements are based on the value of the current page, which informs assumptions about the value of pages not seen. What is Interactive Marketing? Interactive marketing is a one to one marketing process that reacts and changes based on the actions of individual customers and prospects. This ability to react to the actions of customers and prospects means that trigger based marketing is dramatically more effective than normal direct marketing. Interactive marketing is typically 2-12 times more effective than traditional direct marketing[1]. Interactive marketing is called many things. You may have heard it called event based marketing or event driven marketing or even trigger based marketing but it is all the same idea: reacting to what the customer is doing and driving up marketing effectiveness. Where would you use interactive marketing? When you ask people about trigger based marketing they generally think of reacting to some trigger in the customer relationship, such as asking for a loan payout figure for a bank loan. Customers asking for this information may be looking to refinance their loan. The request should trigger some action on your part to try tostop them from leaving. However, with the growth of inbound marketing and lead nurture campaigns interactive marketing is applicable to all organisations:

Business to business and Business to consumer High transaction and low transactions businesses. Pre-sale prospect management and post-sale customer management

5.MARKET BASED ANALYSIS Market Basket Analysis What is it? Market Basket Analysis is a modelling technique based upon the theory that if you buy a certain group of items, you are more (or less) likely to buy another group of items. For example, if you are in an English pub and you buy a pint of beer and don't buy a bar meal, you are more likely to buy crisps (US. chips) at the same time than somebody who didn't buy beer. The set of items a customer buys is referred to as an itemset, and market basket analysis seeks to find relationships between purchases. Typically the relationship will be in the form of a rule: IF {beer, no bar meal} THEN {crisps}. The probability that a customer will buy beer without a bar meal (i.e. that the antecedent is true) is referred to as the support for the rule. The conditional probability that a customer will purchase crisps is referred to as the confidence. The algorithms for performing market basket analysis are fairly straightforward (Berry and Linhoff is a reasonable introductory resource for this). The complexities mainly arise in exploiting taxonomies, avoiding combinatorial explosions (a supermarket may stock 10,000 or more line items), and dealing with the large amounts of transaction data that may be available. A major difficulty is that a large number of the rules found may be trivial for anyone familiar with the business. Although the volume of data has been reduced, we are still asking the user to find a needle in a haystack. Requiring rules to have a high minimum support level and a high confidence level risks missing any exploitable result we might have found. One partial solution to this problem is differential market basket analysis, as described below. How is it used? In retailing, most purchases are bought on impulse. Market basket analysis gives clues as to what a customer might have bought if the idea had occurred to them . (For some real insights into consumer behavior, see Why We Buy: The Science of Shopping by Paco Underhill.)

As a first step, therefore, market basket analysis can be used in deciding the location and promotion of goods inside a store. If, as has been observed, purchasers of Barbie dolls have are more likely to buy candy, then high-margin candy can be placed near to the Barbie doll display. Customers who would have bought candy with their Barbie dolls had they thought of it will now be suitably tempted. But this is only the first level of analysis. Differential market basket analysis can find interesting results and can also eliminate the problem of a potentially high volume of trivial results. In differential analysis, we compare results between different stores, between customers in different demographic groups, between different days of the week, different seasons of the year, etc. If we observe that a rule holds in one store, but not in any other (or does not hold in one store, but holds in all others), then we know that there is something interesting about that store. Perhaps its clientele are different, or perhaps it has organized its displays in a novel and more lucrative way. Investigating such differences may yield useful insights which will improve company sales. Other Application Areas Although Market Basket Analysis conjures up pictures of shopping carts and supermarket shoppers, it is important to realize that there are many other areas in which it can be applied. These include:

Analysis of credit card purchases. Analysis of telephone calling patterns. Identification of fraudulent medical insurance claims. (Consider cases where common rules are broken). Analysis of telecom service purchases.

6.TREND ANALYSIS Trend Analysis is the practice of collecting information and attempting to spot a pattern, or trend, in the information. In some fields of study, the term "trend analysis" has more formally-defined meanings.[1][2][3] Although trend analysis is often used to predict future events, it could be used to estimate uncertain events in the past, such as how many ancient kings probably ruled between two dates, based on data such as the average years which other known kings reigned. Project management

In project management trend analysis is a mathematical technique that uses historical results to predict future outcome. This is achieved by tracking variances in cost and schedule performance. In this context, it is a project management quality control tool.[4][5] Statistics In statistics, trend analysis often refers to techniques for extracting an underlying pattern of behaviour in a time series which would otherwise be partly or nearly completely hidden by noise. A simple description of these techniques is trend estimation, which can be undertaken within a formal regression analysis. Management Accounting In management accounting, we calculate the trends. By its analysis, we check our company's past performance and financial position's growth.[6]