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Data Mining Problems in Retail

Highly Scalable

Retail is one of the most important business domains for data science and data mining applications because of its prolific data and numerous optimization problems such as optimal prices, discounts, recommendations, and stock levels that can be solved using data analysis methods. However, many of these models are highly parametric (i.e.

Retail 152
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Conserve or Invest?

The Agile Manager

Both the financial and real economies have suffered quite a few shocks in the last 20 years: the dot-com bubble bursting (2000); September 11 (2001); the Great Recession (2008); and today in 2020 the COVID-19 crisis is wreaking economic havoc. It was much different in 2008.

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Lost Productivity or Found Hyperefficiency?

The Agile Manager

Twined with the radical reduction of information asymmetry (particularly with regard to product price data), it stands to reason that there has been significant productivity growth in western economies: supply chains have never been so optimized, retail and wholesale transactions so price-fair and friction-free.

Energy 52
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Fundamentals

The Agile Manager

A small merchant wanting to do more business digitally didn't have the balance sheet to finance development of digital capabilities, let alone drive consumer behavior change to use those capabilities. From a certain point of view, a lot of banks were nationalized by governments in the wake of the 2008 financial crisis.