Business Intelligence For The Retail Industry: Actionable Insights For Business Decision Makers

The retail sector was one of the first sectors to make significant investments in collecting and integrating customer data in data warehouses. Retailers have generally earned a significant return on their IT system investments by using business intelligence systems to analyze the data to improve business performance with a focus on reducing operating costs, without sacrificing the customer experience. The levers that a retailer can use to optimize performance include: price, promotion, markdown, assortment, space, allocation and replenishment. Data-driven decision making is key to successful decisions regarding all of these levers.