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Retail Analytics: The Secret Weapon, by Emmett Cox
Fee Download Retail Analytics: The Secret Weapon, by Emmett Cox
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The inside scoop on boosting sales through spot-on analytics
Retailers collect a huge amount of data, but don't know what to do with it. Retail Analytics not only provides a broad understanding of retail, but also shows how to put accumulated data to optimal use. Each chapter covers a different focus of the retail environment, from retail basics and organization structures to common retail database designs. Packed with case studies and examples, this book insightfully reveals how you can begin using your business data as a strategic advantage.
- Helps retailers and analysts to use analytics to sell more merchandise
- Provides fact-based analytic strategies that can be replicated with the same success the author achieved on a global level
- Reveals how retailers can begin using their data as a strategic advantage
- Includes examples from many retail departments illustrating successful use of data and analytics
Analytics is the wave of the future. Put your data to strategic use with the proven guidance found in Retail Analytics.
- Sales Rank: #593154 in Books
- Brand: Brand: Wiley
- Published on: 2011-10-18
- Original language: English
- Number of items: 1
- Dimensions: 9.30" h x .75" w x 7.40" l, .76 pounds
- Binding: Hardcover
- 176 pages
- Used Book in Good Condition
From the Inside Flap
Drowning in data? You're not alone. Retailers across the globe have collected a coffer of data over the years. Knowing how to analyze and mine that data to increase sales and reap bigger profits is the key to your company's success. Learn how to leverage your data to your strategic advantage like the best-in-class retail giants with the field-tested solutions and examples found in Retail Analytics.
Intended as a reference guide to help you develop a better understanding of retailers' language and analytic processes, Retail Analytics provides you with the tools you need to analyze data, manage inventory, increase sales, and anticipate trends. Based on author Emmett Cox's thirty years of retail experience at Walmart, Kmart, and GE Money Global, this comprehensive reference guide provides fact-based, field-tested analytic strategies that you can replicate in your own company, including how one retailer eliminated 20 percent of its merchandise mix and still saw a 30 percent sales gain.
Beginning with a fundamental understanding of retail terminology and concepts across a wide variety of backgrounds and experience levels, each chapter covers a different focus of the retail environment, including retail basics, the highly volatile apparel industry, the importance of geography and demographics, in-store marketing and presentations, organization structures, and common retail database designs.
Throughout the guide, Cox weaves numerous hands-on solutions, case studies, and real-world examples of data-driven projects from such leading retailers as Kmart, Coles Group Kmart Target, ASDA, Walmart, and others. You'll discover:
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The ABCs of retail: Know your SKUs, UPCs, EANs, JITs, POSs, and UCCs
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Why data without use is just overhead
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Celebrity marketing: how to monitor incremental increases in quantity and sales of each "celebrity" item
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Critical need-to-know information in apparel analytics
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Product placement: why diapers and chewing gum go well together
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Geography's role in retail
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Strategies for in-store marketing and presentation
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How traffic patterns have evolved over the years to suit customers' time restrictions
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Tips for setting up your store for success
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How to develop loyalty programs early on
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Consumer finance credit card retail perspective
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How Kmart developed the School Spirit loyalty program
Don't leave the fate of your business's success to chance. Discover how to apply the science of analytics to maximize results with the help of Retail Analytics.
From the Back Cover
Praise for Retail Analytics
"Analytics are driving the future of the retail industry. Cox's book is the only comprehensive source on these tools. Become familiar with its contents, or suffer at the prowess of competitors who did!"
— Thomas H. Davenport, Distinguished Professor, Babson College Coauthor of Competing on Analytics and Analytics at Work
"A must-read for any business executive or technologist wanting a quick, practical, and easy-to-understand summary of the power of retail analytics.??Every retailer is interested in increasing sales and profitability and reducing costs.?? Emmett's practical knowledge and real-life examples demonstrate how!"
— Lori J. Schafer, Coauthor of Branded! How Retailers Engage Consumers with Social Media and Mobility and Executive Advisor, Retail, SAS Institute
Turn data into dollars with Retail Analytics
How did Levi's evolve from the "working man's" jeans to outfitting the entire family from head to toe? Why do Luvs and Lifesavers often end up in the shopping cart together? How do media giants Kmart, Walmart, and Target (Australia) leverage their cache of retail data to move more merchandise and increase profits? Give your products and bottom line a boost and maximize your strategic advantage with the cutting-edge analytic tools found in Emmett Cox's Retail Analytics.
Blending the perspectives of both his retail and financial services backgrounds, Cox includes numerous examples of projects and case studies that he either developed or brought to fruition to show you how to deliver maximum results in your company. Retail Analytics also balances the credit card marketing point of view throughout each section to illustrate how it is used to augment many types of analytics.
A must-read for CEOs, CFOs, and retail managers, Retail Analytics shows you how to leverage analytics to:
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Pinpoint where to break ground on new stores using GIS tools
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Work with enormous amounts of data in a very logical and structured way
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Anticipate the needs of the local consumer base
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Bridge between retail and credit companies
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Identify purchasing patterns to initiate the "next best offer" to your customers
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Track purchases using advanced market basket data
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Cash in on your data—up to $30 million on an annual basis
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Stimulate impulse buying and follow-up purchases on online orders
Learn how to analyze, mine, and manipulate your data and watch your bottom line soar with the practical steps and guidelines found in Retail Analytics.
About the Author
Emmett Cox is Senior Vice President of Consumer and Business Intelligence at BBVA Compass Bank, where he uses his retail experience in the development of strategic-based consumer programs. He has also worked for Walmart Financial Services, GE Money Global, and Kmart. He has lectured in many CRM and marketing conferences and seminars, including the Paris Loyalty Forum, Czech Republic Loyalty Management, ACNielsen Category Management, Spectra Marketing and Intelligent Targeting, Teradata NCR Partners, and others in the United States; Coolum, Australia; and Vienna, Austria.
Most helpful customer reviews
23 of 24 people found the following review helpful.
There are better options
By David B. Kaplowitz
There is little to no substance in this book. The author gives a broad, unorganized, surface level explanation of various retail concepts. Various data driven areas of retail management are discussed, but no methodology (the 'how') is offered. The author's only area of expertise seems to be credit card basket analysis.. which is the only type of analysis he discusses.. and even that is only a cursory explanation. Finally, over half the book deals with his random observations about retail management (having nothing to do with analytics), and he is certainly no expert in that regard (his observations are on par with that of a savvy consumer, not a retail professional).. Don't waste your money, instead, buy "The New Science of Retailing:..." that book is everything you would have been hoping for in this one.
7 of 7 people found the following review helpful.
Light in content, lacking current best practicies
By Loyaltyhart1
This book might be good for someone new to the retail industry, but it's a small book covering a broad range of retail areas and not very deep or current in any of them. Rather, buy: "The New Science of Retailing" for current in-depth and accurate current methods.
5 of 5 people found the following review helpful.
Plenty of war stories, and nothing else...
By ksng
The book has its origins in sales notes, and it shows...
For a PowerPoint warrior who needs to produce pages after pages of retail analytics use cases for executives, this book is somewhat useful. Even there, the book is just a grab bag of high-level techniques/insights, without a good organizing framework.
For someone at the coal face of retail analytics who needs to understand and implement analytical techniques to obtain results, this book is found wanting at all levels.
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