Market Basket Analysis & Linear Discriminant Analysis with R

Master: Association rules (MBA) & it's usage, Linear Discriminant Analysis (LDA) for classification & variable selection

Ratings: 4.20 / 5.00




Description

This course has two parts. In part 1 Association rules (Market Basket Analysis) is explained. In Part 2, Linear Discriminant Analysis (LDA) is explained. L

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Details of Part 1 - Association Rules / Market Basket Analysis (MBA)

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  • What is Market Basket Analysis (MBA) or Association rules
  • Usage of Association Rules - How it can be applied in a variety of situations 
  • How does an association rule look like?
  • Strength of an association rule - 
    1. Support measure
    2. Confidence measure 
    3. Lift measure
  • Basic Algorithm to derive rules
  • Demo of Basic Algorithm to derive rules - discussion on breadth first algorithm and depth first algorithm
  • Demo Using R - two examples
  • Assignment to fortify concepts

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Details of Part 2 - Linear  (Market Basket Analysis)

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  • Need of a classification model
  • Purpose of Linear Discriminant
  • A use case for classification
  • Formal definition of LDA
  • Analytics techniques applicability
  • Two usage of LDA 
    1. LDA for Variable Selection
    2. Demo of using LDA for Variable Selection
    3. Second usage of LDA - LDA for classification
  • Details on second practical usage of LDA
    1. Understand which are three important component to understand LDA properly
    2. First complexity of LDA - measure distance :Euclidean distance 
    3. First complexity of LDA - measure distance enhanced  :Mahalanobis distance
    4. Second complexity of LDA - Linear Discriminant function
    5. Third complexity of LDA - posterior probability / Bays theorem
  • Demo of LDA using R
    1. Along with jack knife approach
    2. Deep dive into LDA outputn
    3. Visualization of LDA operations
    4. Understand the LDA chart statistics
  • LDA vs PCA side by side
  • Demo of LDA for more than two classes: understand
    1. Data visualization
    2. Model development
    3. Model validation on train data set and test data sets
  • Industry usage of classification algorithm
  • Handling Special Cases in LDA

What You Will Learn!

  • Students will know what is association rules (Market Basket Analysis)?
  • How do association rules work?
  • How to do market basket analysis using Excel & R
  • What is linear discriminant analysis?
  • How to do linear discriminant analysis using R?
  • How to understand each component of the linear discriminant analysis output?
  • Practical usage of linear discriminant analysis

Who Should Attend!

  • Market Research Professionals
  • Business Analytics professionals
  • Data Scientists