What is the significance of support, confidence and lift in market basket analysis?

Question

Accepted Answer

Support, confidence, and lift are key metrics in market basket analysis to identify relationships between items in a transaction.

Support measures how frequently an itemset appears in the dataset.
Confidence measures the likelihood that an item B is purchased when item A is purchased.
Lift measures how much more likely item B is purchased when item A is purchased compared to when item B is purchased independently of item A.
Higher support indicates a stronger relationship between items.
Higher confidence indicates a stronger association between items.
A lift value greater than 1 indicates that the items are more likely to be bought together than individually.
For example, if coffee and sugar have a lift value of 2, it means customers are twice as likely to buy coffee and sugar together than just coffee alone.

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