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Retail Analytics
Retail analytics is an emerging area which aims at analyzing every aspect of Retail activity right from sales performance, to marketing effectiveness to customer preferences, to loyalty and shift.
From a marketing perspective analytics covers
Customer segmentation and targeting
Campaign management’
Customer / Channel Affinity
From a sales perspective CRM analytics covers
Customer Profitability Analysis
Cross Selling and Up selling’
Market Basket Analysis
Product Affinity
From inventory and merchandise point of view
Predict accurately what products should be sold together
Analyze product performance across a category
Shelf Life analytics
Understand how pricing impacts sales volumes
Identify which products produce the largest returns
Which products (by category, feature set, model) generate the most revenue, and profit?
From a customer service perspective, the analytics covers
Customer Satisfaction Analysis
Customer Loyalty Analysis
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