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Retail Analytics: Various tools

Retailers are using analytical tools in order to drive sales. Organizations use tools such as pricing and assortment optimization, location analytics, and customer-driven marketing. Still, many retailers are puzzled to prioritize their analytical approaches. Some companies are astounded by the large number of options they have, while others find it difficult to manage data provided by various point-of-sale systems, websites and other internal transaction processes. Another reason is a lack of skilled analysts which hampers progress. Thomas H. Davenport (Distinguished Professor of Information Technology and Management at Babson College in Massachusetts), writes in his article about the strategies and approaches organizations must follow while choosing their analytical tools. To know more, follow: http://www.teradatamagazine.com/v09n04/Viewpoints/The-potential-of-retail-analytics/

 

 

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