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Retail Space Analytics
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Book Synopsis Retail Space Analytics by : Ahmed Ghoniem
Download or read book Retail Space Analytics written by Ahmed Ghoniem and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume presents state-of-the-art research that can leverage large-scale sensory data collected in grocery/retail stores where a single customer visit may generate nearly 10,000 data points. For decades, retail shelf space optimization has been confined to the analysis of product allocation decisions over a limited number of shelves, often taken in isolation. Such models incorporated interesting concepts relating to space and cross-space elasticity in the design of planograms. Although useful, these models have not addressed the bigger picture of planning store shelf space in a more holistic manner. It is important to note that the space planning analytics in the book are particularly important in an era where e-commerce is on the rise and brick-and-mortar retailing is declining and experiencing severe crises (the retail apocalypse). This is the first research-oriented book that examines novel problems in store space analytics, triggered by modern-day sensory technologies, customer trackers, and transactional tools (point-of-sales, etc.). In fact, such transformative technologies have prompted the development of new and exciting business practices, accompanied by the need for powerful data-driven models and analyses in retail shelf space and layout planning. The book will facilitate developing algorithms and decision tools that allow a better leverage of the data collected from these mediums.
Book Synopsis Retail Space Analytics by : Ahmed Ghoniem
Download or read book Retail Space Analytics written by Ahmed Ghoniem and published by Springer Nature. This book was released on 2023-06-09 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited volume presents state-of-the-art research that can leverage large-scale sensory data collected in grocery/retail stores where a single customer visit may generate nearly 10,000 data points. For decades, retail shelf space optimization has been confined to the analysis of product allocation decisions over a limited number of shelves, often taken in isolation. Such models incorporated interesting concepts relating to space and cross-space elasticity in the design of planograms. Although useful, these models have not addressed the bigger picture of planning store shelf space in a more holistic manner. It is important to note that the space planning analytics in the book are particularly important in an era where e-commerce is on the rise and brick-and-mortar retailing is declining and experiencing severe crises (the retail apocalypse).This is the first research-oriented book that examines novel problems in store space analytics, triggered by modern-day sensory technologies, customer trackers, and transactional tools (point-of-sales, etc.). In fact, such transformative technologies have prompted the development of new and exciting business practices, accompanied by the need for powerful data-driven models and analyses in retail shelf space and layout planning. The book will facilitate developing algorithms and decision tools that allow a better leverage of the data collected from these mediums.
Download or read book Retail Analytics written by Emmett Cox and published by John Wiley & Sons. This book was released on 2011-10-18 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: The inside scoop on boosting sales through spot-on analytics Retailers collect a huge amount of data, but don't know what to do with it. Retail Analytics not only provides a broad understanding of retail, but also shows how to put accumulated data to optimal use. Each chapter covers a different focus of the retail environment, from retail basics and organization structures to common retail database designs. Packed with case studies and examples, this book insightfully reveals how you can begin using your business data as a strategic advantage. Helps retailers and analysts to use analytics to sell more merchandise Provides fact-based analytic strategies that can be replicated with the same success the author achieved on a global level Reveals how retailers can begin using their data as a strategic advantage Includes examples from many retail departments illustrating successful use of data and analytics Analytics is the wave of the future. Put your data to strategic use with the proven guidance found in Retail Analytics.
Download or read book Retail Analytics written by Emmett Cox and published by John Wiley & Sons. This book was released on 2011-09-13 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: The inside scoop on boosting sales through spot-on analytics Retailers collect a huge amount of data, but don't know what to do with it. Retail Analytics not only provides a broad understanding of retail, but also shows how to put accumulated data to optimal use. Each chapter covers a different focus of the retail environment, from retail basics and organization structures to common retail database designs. Packed with case studies and examples, this book insightfully reveals how you can begin using your business data as a strategic advantage. Helps retailers and analysts to use analytics to sell more merchandise Provides fact-based analytic strategies that can be replicated with the same success the author achieved on a global level Reveals how retailers can begin using their data as a strategic advantage Includes examples from many retail departments illustrating successful use of data and analytics Analytics is the wave of the future. Put your data to strategic use with the proven guidance found in Retail Analytics.
Book Synopsis Style and Statistics by : Brittany Bullard
Download or read book Style and Statistics written by Brittany Bullard and published by John Wiley & Sons. This book was released on 2016-11-30 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: A non-technical guide to leveraging retail analytics for personal and competitive advantage Style & Statistics is a real-world guide to analytics in retail. Written specifically for the non-IT crowd, this book explains analytics in an approachable, understandable way, and provides examples of direct application to retail merchandise management, marketing, and operations. The discussion covers current industry trends and emerging-standard processes, and illustrates how analytics is providing new solutions to perennial retail problems. You'll learn how to leverage the benefits of analytics to boost your personal career, and how to interpret data in a way that's useful to the average end business user or shopper. Key concepts are detailed in easy-to-understand language, and numerous examples highlight the growing importance of understanding analytics in the retail environment. The power of analytics has become apparent across industries, but it's left an especially indelible mark on retail. It's a complex topic, but you don't need to be a data scientist to take advantage of the opportunities it brings. This book shows you what you need to know, and how to put analytics to work with retail-specific applications. Learn how analytics can help you be better at your job Dig deeper into the customer's needs, wants, and dreams Streamline merchandise management, pricing, marketing, and more Find solutions for inefficiencies and inaccuracies As the retail customer evolves, so must the retail industry. The retail landscape not only includes in-store but also website, mobile site, mobile apps, and social media. With more and more competition emerging on all sides, retailers need to use every tool at their disposal to create value and gain a competitive advantage. Analytics offers a number of ways to make your company stand out, whether it's through improved operations, customer experience, or any of the other myriad factors that build a great place to shop. Style & Statistics provides an analytics primer with a practical bent, specifically for the retail industry.
Book Synopsis Retail Analytics and Optimization for Store-wide Shelf-space Management by : Tulay Flamand
Download or read book Retail Analytics and Optimization for Store-wide Shelf-space Management written by Tulay Flamand and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: A major constituent of modern-time economies, retailing is a vibrant business sector that is marked by high competition, tight profit margins, novel business strategies in online and in-store environments, and demanding consumers. Driven by massive volumes of point-of-sale data, retail analytics has become instrumental for unveiling better managerial practices. Our research falls under the umbrella of retail shelf space management. In self-service outlets, shelf space constitutes a scarce resource and its management is central to ensuring an attractive shopping experience and a profitable business. We investigate how, under a given store layout, the allocation of product categories can be optimized in a fashion that guides in-store traffic and stimulates unplanned purchases -- an aspect that is understudied in the management science literature. Our study is predicated on the notion that effective store-wide shelf space allocation of products, be it fast- or slow-movers, can significantly improve product visibility and induce a lucrative stream of so-called impulse purchases. The latter correspond to unplanned, "on-the-spot" purchases (Piron, 1991) that are triggered by in-store stimuli (Piron, 1991; Clover 1950) and may account for over 50% of purchases in supermarkets (Kollat and Willet, 1967). Although impulse buying has been well-documented in the marketing literature, the notion of planning shelf space at the store-level in order to stimulate impulse buying remains unexplored in the operations management literature. This dissertation contributes to filling this gap in the literature and has the following two overarching objectives: (i) To examine how retail shelf space allocation can be tactically planned using analytics, optimization methodology, and effective algorithmic procedures, in order to improve the visibility of products to consumers and to maximize the expected profit from impulse buying and (ii) to tackle the computational challenges posed by the associated class of optimization problems by crafting effective exact and heuristic solution approaches. In Essay 1, we investigate how store-wide retail shelf space allocation can impact the visibility of product categories and drive customer impulse buying. We consider a setting where the retailer, due to historical practice, affinities between product categories, or cross-selling opportunities, has pre-grouped products that ought to be allocated to the same shelf and to the same aisle (e.g., pasta and pasta sauce). We introduce a 0-1 integer programming model that optimizes the following decisions with the objective of maximizing impulse buying: (i) The location of each product group; (ii) the specific location of each product category within its group on its allocated shelf; and (iii) the shelf space allocated to each product category in a group between its minimum/maximum space requirements. The proposed model employs a preprocessing scheme that explores feasible assignments of subsets of product groups to available aisles and enables exact solutions to large-scale instances in manageable times. We demonstrate the usefulness of and the enhanced tractability achieved by the proposed approach using a case study motivated by a grocery store in New England and a variety of simulated problem instances. We provide qualitative insights for the retailers by comparing the current allocation and the optimized allocation in the case study. In Essay 2, we focus on a class of generalized assignment problems with location/allocation considerations (GAPLA) that is prompted by our research in the store-wide shelf space allocation problem. In this regard, shelves may be viewed as variable-sized knapsacks, each is discretized into consecutive segments having different levels of attractiveness. This segment discretization constitutes a novel feature that distinguishes GAPLA from traditional generalized assignment problems and makes it more computationally challenging. Further, product categories can be viewed as items that must be assigned to knapsacks and allocated a space between their minimum/maximum space requirements. To maximize a total reward function, the decision-maker optimizes item-knapsack assignments, the specific location of items in their assigned knapsack, and the total space allocated to each item within its minimum/maximum space requirements. Optimization models are proposed for the single- and the multiple-knapsack variants of the problem along with model enhancements and valid inequalities. Moreover, the problem is reformulated as a set partitioning model that is tackled by a branch-and-price algorithm. Our computational experience shows that our methodology significantly outperforms the use of commercial software packages such as CPLEX. Essay 3 introduces an effective heuristic solution methodology, namely, a very large-scale neighborhood search algorithm (VLNS), in order to solve large-scale instances of GAPLA. The heuristic employs a restricted variant of the mixed-integer program developed in Essay 2 and iteratively optimizes selected subsets of knapsacks. We conduct a computational study on large-scale instances including up to 210 items and 42 knapsacks and on a realistic case study motivated by a shelf space allocation problem. Our computational results reveal that the proposed heuristic significantly outperforms the best solution provided by CPLEX in one hour time limit and consistently provides high-quality solutions in manageable CPU times. In Essay 4, we conduct data analysis over nearly 40,000 customer receipts from a grocery store in Beirut (Lebanon) in order to correlate in-store customer traffic with product shelf allocations and the store layout. Our statistical analysis is encapsulated in a predictive model that allows the retailer to anticipate customer traffic levels as a result of changes in product shelf space allocation. Further, the predictive model is embedded within a mixed-integer nonlinear optimization model that can prescribe improved store-wide shelf space allocations. The computational intractability of the model is overcome by using a surrogate linear objective function (in lieu of the original nonlinear objective) that guides a variable neighborhood search in the spirit of Essay 3. We demonstrate that our prescriptive analytics has the potential of improving the current store configuration via enhanced shelf space allocations, better in-store traffic, and greater impulse buying.
Book Synopsis The New Science of Retailing by : Marshall Fisher
Download or read book The New Science of Retailing written by Marshall Fisher and published by Harvard Business Press. This book was released on 2010-06-22 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Retailers today are drowning in data but lacking in insight: They have huge volumes of information at their disposal. But they're unsure of how to sort through it and use it to make smart decisions. The result? They're struggling with profit-sapping supply chain problems including stock-outs, overstock, and discounting. It doesn't have to be that way. In The New Science of Retailing, supply chain experts Marshall Fisher and Ananth Raman explain how to use analytics to better manage your inventory for faster turns, fewer discounted offerings, and fatter profit margins. Featuring case studies of retailing exemplars from around the world, this practical new book shows you how to: · Mine your sales data to identify "homerun" products you're missing · Reinvent your forecasting and pricing strategies · Build end-to-end agility into your supply chain · Establish incentives that align your supply chain partners behind shared objectives · Extract maximum value from technologies such as point-of-sale scanners and customer loyalty cards Highly readable and compelling, The New Science of Retailing is your playbook for turning all that data into a wellspring for new profits and unprecedented efficiency.
Book Synopsis Behavior Analytics in Retail by : Ronny Max
Download or read book Behavior Analytics in Retail written by Ronny Max and published by AuthorHouse. This book was released on 2013-09-26 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the value of a bricks-and-mortar store? As retailers move to a multichannel world where the winners must overcome the challenges of pricing transparency, personalized marketing, and supply chain controls, most sales still occur in the physical site. Behavior Analytics is the science of studying the behavior of people. Schedule to Demand is a subset of Behavior Analytics, a method that correlates between traffic, sales and labor data, in order to optimize the productivity of employees and position them where they matter most. In Behavior Analytics for Retail, we will introduce the core metrics of Schedule to Demand; design the requirements for a Customer Service Model of the store, inside the store, and at the checkout; present technology options and accuracy requirements; and offer insights through case studies. Regardless of how the future will shape retail, the physical store will continue to exist, and thrive. We propose a framework for retailers, and others, on how to optimize store operations and profitability, and enhance the shopping experience by measuring, monitoring and predicting the behavior of employees and customers.
Book Synopsis Marketing Analytics Practitioner's Guide, The - Volume 4: Retail And Statistics by : Ashok Charan
Download or read book Marketing Analytics Practitioner's Guide, The - Volume 4: Retail And Statistics written by Ashok Charan and published by World Scientific. This book was released on 2023-09-13 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the use of analytics becomes increasingly important in today's business landscape, The Marketing Analytics Practitioner's Guide (MAPG) provides a thorough understanding of marketing management concepts and their practical applications, making it a valuable resource for professionals and students alike.The four-volume compendium of MAPG provides an in-depth look at marketing management concepts and their practical applications, equipping readers with the knowledge and skills needed to effectively inform daily marketing decisions and strategy development and implementation. It seamlessly blends the art and science of marketing, reflecting the discipline's evolution in the era of data analytics. Whether you're a seasoned marketer or new to the field, the MAPG is an essential guide for mastering the use of analytics in modern marketing practices.Volume IV is divided into two parts — Retail and Statistics for Marketing Analytics. Retail delves into the various aspects of retail tracking, sales and distribution, retail analytics, and category management.The chapter on retail tracking covers in detail the processes that make up a retail measurement service, including the metrics supported by the service, the key benefits of the service, and how the data is interpreted.The sales and distribution chapter covers five key managerial objectives — building distribution, targeting the right channels and chains, optimizing assortment, securing retailer support, and managing stocks in trade.The retail analytics chapter covers a range of diagnostic analytic tools used to extract insights from disaggregate outlet-level data.Category management offers a framework for retailers to manage their business and for suppliers to understand the dynamics of trade marketing.Statistics for Marketing Analytics covers basic statistics, sampling, and marketing mix modelling. It aims to equip readers with the statistical knowledge and tools necessary to analyse and interpret marketing data. The chapters in this part provide a comprehensive understanding of statistical methods and their applications in marketing analytics, including sampling techniques, probability distributions, hypothesis testing, and regression analysis.
Book Synopsis Demand Prediction in Retail by : Maxime C. Cohen
Download or read book Demand Prediction in Retail written by Maxime C. Cohen and published by Springer Nature. This book was released on 2022-01-01 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: From data collection to evaluation and visualization of prediction results, this book provides a comprehensive overview of the process of predicting demand for retailers. Each step is illustrated with the relevant code and implementation details to demystify how historical data can be leveraged to predict future demand. The tools and methods presented can be applied to most retail settings, both online and brick-and-mortar, such as fashion, electronics, groceries, and furniture. This book is intended to help students in business analytics and data scientists better master how to leverage data for predicting demand in retail applications. It can also be used as a guide for supply chain practitioners who are interested in predicting demand. It enables readers to understand how to leverage data to predict future demand, how to clean and pre-process the data to make it suitable for predictive analytics, what the common caveats are in terms of implementation and how to assess prediction accuracy.
Book Synopsis Retail and Statistics by : Ashok Charan
Download or read book Retail and Statistics written by Ashok Charan and published by World Scientific Publishing Company. This book was released on 2023-09 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the use of analytics becomes increasingly important in today's business landscape, The Marketing Analytics Practitioner's Guide (MAPG) provides a thorough understanding of marketing management concepts and their practical applications, making it a valuable resource for professionals and students alike. The four-volume compendium of MAPG provides an in-depth look at marketing management concepts and their practical applications, equipping readers with the knowledge and skills needed to effectively inform daily marketing decisions and strategy development and implementation. It seamlessly blends the art and science of marketing, reflecting the discipline's evolution in the era of data analytics. Whether you're a seasoned marketer or new to the field, the MAPG is an essential guide for mastering the use of analytics in modern marketing practices. Volume IV is divided into two parts - Retail and Statistics for Marketing Analytics. Retail delves into the various aspects of retail tracking, sales and distribution, retail analytics, and category management. The chapter on retail tracking covers in detail the processes that make up a retail measurement service, including the metrics supported by the service, the key benefits of the service, and how the data is interpreted. The sales and distribution chapter covers five key managerial objectives - building distribution, targeting the right channels and chains, optimizing assortment, securing retailer support, and managing stocks in trade. The retail analytics chapter covers a range of diagnostic analytic tools used to extract insights from disaggregate outlet-level data. Category management offers a framework for retailers to manage their business and for suppliers to understand the dynamics of trade marketing. Statistics for Marketing Analytics covers basic statistics, sampling, and marketing mix modelling. It aims to equip readers with the statistical knowledge and tools necessary to analyse and interpret marketing data. The chapters in this part provide a comprehensive understanding of statistical methods and their applications in marketing analytics, including sampling techniques, probability distributions, hypothesis testing, and regression analysis.
Download or read book Agile Analytics written by Ken Collier and published by Addison-Wesley. This book was released on 2012 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using Agile methods, you can bring far greater innovation, value, and quality to any data warehousing (DW), business intelligence (BI), or analytics project. However, conventional Agile methods must be carefully adapted to address the unique characteristics of DW/BI projects. In Agile Analytics, Agile pioneer Ken Collier shows how to do just that. Collier introduces platform-agnostic Agile solutions for integrating infrastructures consisting of diverse operational, legacy, and specialty systems that mix commercial and custom code. Using working examples, he shows how to manage analytics development teams with widely diverse skill sets and how to support enormous and fast-growing data volumes. Collier's techniques offer optimal value whether your projects involve "back-end" data management, "front-end" business analysis, or both. Part I focuses on Agile project management techniques and delivery team coordination, introducing core practices that shape the way your Agile DW/BI project community can collaborate toward success Part II presents technical methods for enabling continuous delivery of business value at production-quality levels, including evolving superior designs; test-driven DW development; version control; and project automation Collier brings together proven solutions you can apply right now--whether you're an IT decision-maker, data warehouse professional, database administrator, business intelligence specialist, or database developer. With his help, you can mitigate project risk, improve business alignment, achieve better results--and have fun along the way.
Book Synopsis Enterprise Analytics by : Thomas H. Davenport
Download or read book Enterprise Analytics written by Thomas H. Davenport and published by Pearson Education. This book was released on 2013 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: "International Institute for Analytics"--Dust jacket.
Book Synopsis Computational Logistics by : Alexander Garrido
Download or read book Computational Logistics written by Alexander Garrido and published by Springer Nature. This book was released on with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Retail Analytics by : Anna-Lena Sachs
Download or read book Retail Analytics written by Anna-Lena Sachs and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This book addresses the challenging task of demand forecasting and inventory management in retailing. It analyzes how information from point-of-sale scanner systems can be used to improve inventory decisions, and develops a data-driven approach that integrates demand forecasting and inventory management for perishable products, while taking unobservable lost sales and substitution into account in out-of-stock situations. Using linear programming, a new inventory function that reflects the causal relationship between demand and external factors such as price and weather is proposed. The book subsequently demonstrates the benefits of this new approach in numerical studies that utilize real data collected at a large European retail chain. Furthermore, the book derives an optimal inventory policy for a multi-product setting in which the decision-maker faces an aggregated service level target, and analyzes whether the decision-maker is subject to behavioral biases based on real data for bakery products.
Download or read book Lean Analytics written by Alistair Croll and published by "O'Reilly Media, Inc.". This book was released on 2024-02-23 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: Whether you're a startup founder trying to disrupt an industry or an entrepreneur trying to provoke change from within, your biggest challenge is creating a product people actually want. Lean Analytics steers you in the right direction. This book shows you how to validate your initial idea, find the right customers, decide what to build, how to monetize your business, and how to spread the word. Packed with more than thirty case studies and insights from over a hundred business experts, Lean Analytics provides you with hard-won, real-world information no entrepreneur can afford to go without. Understand Lean Startup, analytics fundamentals, and the data-driven mindset Look at six sample business models and how they map to new ventures of all sizes Find the One Metric That Matters to you Learn how to draw a line in the sand, so you'll know it's time to move forward Apply Lean Analytics principles to large enterprises and established products
Book Synopsis The Retail Champion by : Clare Rayner
Download or read book The Retail Champion written by Clare Rayner and published by Kogan Page Publishers. This book was released on 2012-07-03 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: Learn how to BE a retail champion! All the knowledge and skills you need to make your retail business a scalable, saleable enterprise.The Retail Champion 10 steps to retail success is aimed at every small retailer who is serious about growing their business. Clare Rayner, who is known as The Retail Champion, has developed a practical ten step methodology that helps retail business owners to create their own unique action plan and to design their success template. The 10 steps to retail success methodology enables retailers to develop robust and repeatable processes and systems in order to become scalable, saleable businesses. Throughout this book Clare Rayner will give you the tools, techniques and motivation you need to thrive in the highly competitive retail market. As an added bonus, when you buy this book you will be given exclusive, client-only access to a whole range of downloadable resources such as business plan, range plan, promotional plan and cash flow plan templates that will put you on the fast-track to success
