The Retail Analytics Advantage

When looking at retail analytics, there are 4 levels – what happened (Descriptive), why it happened (Diagnostic), what could happen (Predictive), and what should happen (Prescriptive). The data is  clear from this independent research completed in late 2022.

The retailers that are using predictive and prescriptive retail analytics are significantly outperforming  retailers that are only using lower levels. This research looks at the growth in analytics, the types that are bringing the best bang for the buck and the advantages that retailers and restaurants are gaining through deployment. The research involves a look at the level of analytics used in Loss  Prevention, Employee Performance, Promotions, Merchandise/Category Performance, Customer  Loyalty, Store Performance, Supply Chain and Vendor Performance. We look at overall sales and profit growth, store and online sales growth and timing for moving to more predictive and  prescriptive analytics choices.

The research study also includes pre-requisites for getting the most out of the analytics used and challenges by type of retailers and size. Finally, the research includes discussions of the categories, segments and tiers with the most maturity and those that the best performing retailers are moving to  the fastest.

This is independent research from the same sample as our Retail’s New Normal study.

But the content is made available to you for free thanks to our sponsors.