Frequently Asked Questions about Retail Analytics
What are retail analytics?
Retail analytics relates to the effort that provides analytical insights on past and future store performance by looking in to vast amounts of data. Such insights are crucial e.g in marketing and procurement decisions.
What data do retailers need?
The data types used in retail analytics vary. For example, pricing data is often used to optimise product prices to reflect the competition, whereas in marketing, behavioural data can be used to group customers behavioural targeting.