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Retailers use data analytics to improve inventory management, marketing efforts, pricing, and product allocations Discover how it works and why you need it in this article. Retail analytics involves using software to collect and analyze data from physical, online, and catalog outlets to provide retailers with insights into customer behavior and shopping trends.

The four main retail analytics types are descriptive, diagnostic, predictive, and prescriptive Data analytics in retail is a powerful tool that can enhance every aspect of your business Retail data analytics is the process of collecting and studying retail data (like sales, inventory, pricing, etc.) to discover trends, predict outcomes, and make better, more profitable business decisions.

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