Numeric Measures for Association Rules

In today's post, we dive into understanding Association Rules for Market Basket Analysis and discuss three numeric measures that should be considered before deciding to act on / make a business decision based on associations that have been observed in the data: (1) Support (2) Confidence and (3) Lift. Association rules are typically written in the format: Left hand side Implies Right hand side The left hand side is referred to as the Antecedent and the right hand side is the Consequent. The Antecedent means a thing that logically precedes another while a Consequent means a thing that follows as a result. For example, in the association rule: {Butter, Eggs} Implies {Bread} Butter and eggs are the Antecedent while Bread is the Consequent. What this rule means that if you were to pick a shopping cart at random and find butter and eggs in there, there is a chance that you are also likely to find bread.