Retail Industry Analysis
Now a day’s huge amount of data is being captured at a rate never before seen in history of retail industry. The retailer’s goal is to translate that data into the meaningful insight so that they can make their decisions.
- How are we doing?
- Why and what we are doing?
- Why should we do in future?
Applications of analytics in retail
- Cross sell and Up sell
- Customer Retention
- Life time value analysis (LTV)
- Customer loyalty and churn analysis
- Inventory optimization (SKU Optimization)
- Sales Forecasting
Solutions in Retail analysis for Retailers
Retail analysis solutions for marketing
- Are my marketing promotional offers increasing the store traffic?
- Is my mail campaign increasing the number of returning visitors?
- How to improve customer loyalty and reduce churn?
- Is my social media campaign affecting my customers?
Retail analysis solutions for operations & sales
- Peak sales time to identify how much workforce/inventory is required?
- Effects of Seasonality affecting my business?
- What is the sales trend?
- Up sell & cross sell analysis?