Modelling in Retail: How to Meet Demand and Customer Expectations
Introduction: The Power of Modeling in Retail In today's highly competitive retail landscape, meeting customer demand and expectations is paramount for business success. To achieve this, retailers must employ effective strategies that optimise inventory management , streamline operations, and provide a superior customer experience. One such strategy that has gained significant traction in recent years is modelling in retail. By utilising advanced analytical techniques, retailers can better understand customer behaviour, forecast demand accurately, and make data-driven decisions. In this article, we will delve into the world of modelling in retail, exploring how it can help businesses stay ahead of the curve and maximise profitability. Modelling in Retail: How It Works Retail modelling involves using mathematical and statistical models to analyse historical data, identify patterns, and predict future demand. These models consider various factors such as seasonality, trends, promotio