Track: Revenue Management & Pricing
Prescriptive Analytics in Retailing
Monday, April 12, 2:40-3:20pm EDT
The use of analytics has become ubiquitous in modern retailing. The growth of online retailers such as Amazon and brick-and-mortar retailers like Zara is greatly explained by their successful implementation of data-driven processes. We will present a general framework to approach business analytics initiatives in practice. We then apply the framework to several examples in the retail industry with an emphasis on controlled field experiments to measure impact.