Retail analytics: New dimension to Retail business
In Retail companies it is pretty obvious those customers who spend maximum are the ones who are most loyal to the company. That is exactly the reason why executives focus their strategies to analyze the buying behavior of customers. Even when experimenting with various analytics techniques it is important to focus on what is the expectation of the client. Retail analytics can help you identify frequency of repeat customer, their likely hood of visiting the outlet, likely total amount of purchase from any particular customer, and many more.
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