Retail

Retail analytics is the science of collecting, analyzing, and reporting on data related to a retailer’s operations. It complements the art of retail.

Retail analytics can apply to analyzing customer behavior, tracking inventory levels, measuring the effectiveness of marketing campaigns, and more. For example, by analyzing data from a variety of sources, such as customer purchase histories, call center logs, and POS systems, retailers can gain valuable insights into their customers’ habits and preferences so they can adjust their product offerings, pricing, return policies, and even their physical and online store layouts accordingly. Analytics also helps retailers make better decisions about which promotions to run and which marketing strategies to focus on, as well as when to staff up and down. Ultimately, data analytics helps retailers increase sales, reduce costs, and improve customer satisfaction and loyalty.