DataHour: Data Science in Retail
DataHour: Data Science in Retail
05 Sep 202215:09pm - 05 Sep 202216:09pm
DataHour: Data Science in Retail
About the Event
Retail refers to the selling of goods and services to customers for individual consumption. The key to retail is that after purchasing from a retailer, a customer consumes the good or service and does not resell it.
The three most common ways to sell goods in retail is through:
- Modern trade: Eg – DMart, Big Bazaar
- Traditional retail stores: Small family-owned retail shops
- E-commerce: Eg – Amazon, Flipkart
There are different ways in which the retail sector is making the best use of data. With the help of data science, we can create a decision augmentation tool to help sales representatives to create order books for traditional retail stores. On the other hand, data science can also help modern trade stores to plan their promotions. Therefore, there are a plethora of use-cases where data science can help us to implement data driven decisions to optimize for the revenue in the retail sector.
In this DataHour, Chaitanya will first explain some common retail terminologies that you would have already heard about during your last visit to Big Bazaar and then proceed ahead to discuss some of the applications of data science in retail.
Prerequisites: Enthusiasm to learn about applications of data science in the retail sector.
- Best articles get published on Analytics Vidhya’s Blog Space
- Best articles get published on Analytics Vidhya’s Blog Space
- Best articles get published on Analytics Vidhya’s Blog Space
- Best articles get published on Analytics Vidhya’s Blog Space
- Best articles get published on Analytics Vidhya’s Blog Space
Who is this DataHour for?
- Best articles get published on Analytics Vidhya’s Blog Space
- Best articles get published on Analytics Vidhya’s Blog Space
- Best articles get published on Analytics Vidhya’s Blog Space
About the Speaker
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