Retail Key Performance Indicators (KPI’s) (This is a sample only – detailed analysis of Retail KPI’s can be found in Retail Math-Made Simple) Sales compared to budget/target: Actual sales $ divided by budget/target sales $. Sales compared to last year (or any other period):…
Retail Location Selection & Market Potential through Predictive Analytics Increased competition and shrinking profit margins in the retail industry have necessitated a demand for sophisticated predictive analytics. Organizations want to know what they can expect from a new or existing location over the long…
Retail Market Basket Analytics Retail Market Basket Analytics are used to analyze the relationships among items that a given consumer purchases (what they put in their “shopping basket”). This information is then combined with comprehensive consumer information databases and qualified predictions are made about…
Customer Lifetime Value Prediction DMSRetail uses sophisticated predictive analytics to help retailers build Lifetime Value (LTV). Attrition and Retention scores for their customers, products or segments. Strategic deployment of these results are proven to reduce churn and increase marketing ROI across the most profitable…
Introducing the 6th Pillar of Retail: It started out with 4 pillars (or 4P’s): Product, Promotion, Price and Place. People did not count for much back then. In early 1980’s with the revolution in management fueled by such publications as “In Search of…