The following post has two assignments namely;
1.Controlling Revenue and Profitability
Find a recent article that compares a Retail organizations comparable store sales or profit percent to the same period last year. The period can be a year, a season, a quarter or a month. Make sure
that you are comparing “like to like” figures meaning same number of stores and the same time period. A recent article is no more than six months old. Save the article as a PDF (not just a link to
the web!), summarize it briefly and address the percent change from period to period.
What caused it? If you were the retail buyer or DMM/GMM for the store, how would you react to the percent change? How would one fix problems if the percent was a decrease; or how would you mitigate
the trends and increase revenue or profits? If the percent was an increase, how could one maximize on the trend and revenue or profits?
2.Data Analysis and Business Intelligence
provide examples of how each of these concepts can be used by upper-level management to make strategic decisions, and provide details on how statistical concepts used in the decision-making
process can be summarized and presented to a board of directors (for example).:
• Types of statistics used for business
• How Computer Software Applications can be used to process and analyze data
• How data can be displayed and explored in an effort to make better strategic business decisions
• What is Business Intelligence (BI), and how it can help business be more competitive?
• How can Big Data and data analytics be used to improve sales and/or customer service?