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Retail Analytics

Retail analytics focuses on providing insights related to sales, inventory, customers, and other important aspects crucial for merchants’ decision-making process. The discipline encompasses several granular fields to create a broad picture of a retail business’ health, and sales alongside overall areas for improvement and reinforcement.

Essentially, retail analytics is used to help make better choices, run businesses more efficiently, and deliver improved customer service analytics.

How predictive analytics is changing the retail industry?

Predictive analytics is changing the retail experience in other ways as well. For instance, retailers can identify the customers that will likely abandon their product, so they can suggest additional incentives to these customers to maximize returns.

What are the focus areas in retail analytics?

The concept of customer analytics has become an everyday area with the rise of E-Commerce businesses. With the ease of digitization, online businesses can track easily their customer‘s behavior and journey. See the full article for more details.

What is retail data?

Retail data refers to any facts or figures that you can collect about your retail business which can then be used to improve your business. That means it can come in many different shapes and forms, including point of sales data, loyalty card data, and market data.

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