Retail Analytics

Retail, as the general wisdom goes, is one of the most unforgiving businesses.And unsurprisingly therefore, retail Industry is definitely an early adopter of analytics, as retailers have utilized analytics across almost all their functionsto achievea unique competitive advantage vs. their peers. In today’s hyper competitive world, both online & offline retailers literally are chasing the penny down the hallway and everypossible dollar earned or saved has a huge impact on retailer’s business

Retail-analytics

Retail is a classic big data problem. The toughest part is in the ability to weed out the noise and focus on the signals in the data – leveraging strong domain expertise and the intellectual curiosity to connect the dots in the vast troughs of data.

Analytics plays a key role across almost every business function for a retailer – be it building consumer loyalty, optimizing category assortments, selecting the right sites for stores, pricing & promotion strategies. Some the key analytics modules for retail would be the following:

  • Assortment Optimization
  • Promotion  & Discounts Analytics
  • Store level profitability optimization
  • Segmented Pricing Strategies
  • Category Management
  • Shopper Analytics
  • Customer Loyalty Analytics