Retail Analytics: Driving Success in Retail Industry with

Business Analytics

Growing trends and growing competition has made optimisation of business activities along
with consumer satisfaction the utmost importance to retailers. Along with generating healthy
profits and having an efficient business model, it is vital for the retailers to reach out to their
consumers and understand if they want to thrive in the market. This is where Data and
Business analytics comes into play. Companies have realised that analytics is the modern
need; Right from tracking future trends to deciding the price points of their products,
analytics has come in handy. It also helps in optimising product placements in store and
predicting future sales. From the view point of understanding the consumer better, analytics
helps in keeping track of the purchase records and the number of visits to the store