Difference Between Cross Sell vs Market Basket and Churn Vs Survival Analysis

analytics
data_science

#1

Hi Folks,

I am new in advance analytics.
I wanna understand difference between Cross Sell vs Market Basket Analysis and Churn Vs Survival Analysis.


#2

Dear Ankit,

Below I am trying to explain the difference.

Cross Sell Vs Market Basket Analysis

In Cross-sell, Current product and Target product are pre known. (In most cases)
In Market Basket Analysis, customers belonging to same basket behaves similarly. So, Market Basket Analysis is one of the many ways to do Cross-Sell.