This project was performed under CSE 519 : Data Science Fundamentals as a group project with two other members: Surabhi Sarnot and Sanket Varkhede.
In this project, we have analyzed the data of Costello’s ACE hardware (which is a hardware store chain from Long Island) with the primary goal of providing the store with insights that will help them grow their business. It will provide some valuable and analytical insights like which product to stock and which product to place near other product to increase the overall sales. This analysis will help them improve their current business strategy. We have used Apriori and XGBoost algorithms to analyze the customers basket and predict the stock of a particular product in future. We also suggest certain stores to implement Loss Leader pricing method to boost their profits.
Broadly, following tasks were performed as part of this project:
- Exploratory Data Analysis
- Market Basket Analysis for asociative rule learning
- Time series analysis for stock prediction
- Loss Leader Analysis for increasing profitability of stores
The end-of-semster project report has been uploaded herewith which explains each of the tasks done under this project and briefly outlines the challenges faced.