Data Insights for Business Decisions in Retail Sector

DATA INSIGHTS FOR
BUSINESS DECISIONS

TABLE OF CONTENTS
•INTRODUCTION
•TYPE OF DATA THAT IS COLLECTED AND USED BY COMPANIES
•MARKET RESEARCH METHOD AND HOW IT IS DIFFERENT FROM BIG DATA
•DEFINING HOW INFORMATION IS CAPTURED AND STORED
•DEFINING IMPACT OF TECHNOLOGICAL DEVELOPMENT ON ROLE AND USE OF DATA
•HOW DATA IS USED WITHIN DAY-TO-DAY OPERATIONS OF ORGANIZATIONS WITHIN THE
SECTOR AND IMPORTANCE OF STRATEGIC ALLIANCE
•OUTLINING RESEARCH FOR IMPROVING DATA CAPTURE AND USE IN RETAIL SECTOR
•CONCLUSION

INTRODUCTION
• Data insight is the approach of gaining insight by analyzing
information on a particular issue.
• Data insight in retail industry focuses on various aspects, which
are- price optimization, future performance prediction,
accommodate small-scale retailers, demand prediction, create high
return on investment, forecast trends, identify customers, discount
efficiency, reduction in churn rate, and product sell through rate.
• eBay is an American international company that is based is San
Jose, California which offers consumer-to-consumer and business-
to-consumer sales by using their website. The international
company was founded by Pierre Omidyar since 1995 which offers
an e-commerce platform that is providing medium to retailers to
run their business all around the globe.

TYPE OF DATA THAT IS COLLECTED AND
USED BY COMPANIES
Sector- retail
• Retail industry focuses on sale of goods and services and
these activities ae carried out directly to consumers or end-
users. Retail industry offers retail banking, tourism,
insurance, private health care, private education, private
security firms, public transport and others.
• The retail industry in UK is operating with more than
3,00,000 business on the country and represents around 8%
of jobs in UK.