Style and Statistics: The Art of Retail Analytics

PRAISE FOR STYLE & STATISTICS

"As a nontechnical retail aficionado, I found Style & Statistics to be a modern, applicable guide to gaining a competitive edge in a fierce industry. Bullard′s knack for retail shone through and provided an insightful path to success, as an organization and as an individual, in a constantly evolving landscape."
Erin Fatica, Replenishment Planner, HSN

"I have no doubt that leveraging the art and science of analytics is a key to the future for retailers large and small. Use the information and insights that you′ll gain from Style & Statistics to turbo–charge the success of your business!"
Steve Knopik, CEO, Bealls Inc.

"As a buyer for a large department store I am always trying to find the balance between customer wants by store location and how to best meet supply and demand. Delivering beautiful product to a store is a great feeling, but knowing product you deliver also has analytical data backing it up is a dream come true to any buyer."
Tiffany Kozel, Corporate Buyer, Dillard′s

"Retail has become an extremely competitive and rapidly changing business. In today′s omnichannel marketplace, robust retail analytics are critical to successfully connecting with and retaining the customer. In Style & Statistics, Ms. Bullard lays the groundwork with historical information around the business of retail, while providing a forward–thinking approach to current and future challenges. Style & Statistics is educational, approachable, and entertaining! I would definitely recommend this book to both new and experienced planning and allocation professionals!"
Christy L. Jameson, Merchandise Planning and Allocation
Management Professional

"Analytics is rapidly becoming the biggest strategic lever that a brand can exercise for competitive advantage and global growth. Style & Statistics contains a wealth of information to help you navigate today′s ultra–competitive marketplace by translating data into actionable business insights"
Sahal Laher, EVP: Digital, Innovation and Technology;
Global CIO, Brooks Brothers

Introduction

Chapter 1: Changing Face of Retail

Chapter 2: Merchandise Financial Planning

Statistical Forecasting

Chapter 3: Assortment Management

Understanding Your Customer

Understanding Product Choice Counts

Understanding Current Product Performance

Predicting the Evolution of Trends

How much to buy?

What sizes do I need?

Chapter 4: Fulfillment

Allocation

Order Fulfillment

Chapter 5: Pricing

Pricing Analytics

Regular Price

Promotional Pricing

Markdown/Clearance Pricing

Pricing Maturity & Organizational Structures

Chapter 6: Marketing

Data

Marketing Campaign Lift Analysis

Customer Lifetime Value

Customer Segmentation

The Internet of Things

Path to Purchase

Chapter 7: In–Store Experience

Store Labor Forecasting

Assortment Optimization

The Internet of Things

Chapter 8: Cyber–Security

EMV/Chip Cards

Chargebacks

Data Governance

Chapter 9:  Customer Journey

Chapter 10: How to Gain Personal Value from Analytics

The Citizen Data Scientist

Change Agent

Finding the Right Fit

Chapter 11: How to Gain Personal Value from Analytics

The Citizen Data Scientist

Change Agent

Finding the Right Fit

Additional Resources

Glossary

Retail Math

References

Index

BRITTANY BULLARD is a Solutions & Analytical Consultant in the Retail and Consumer Packaged Goods Practice at SAS Institute. At SAS, she assists retailers in driving profitability through the use of powerful analytics. During her nine years of retail industry experience, she implemented, managed, and took part in planning solutions for allocation, replenishment, forecasting, location planning, and assortment.