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Chapter 7 showed that making retail decisions, such as the size of your product assortment, is worth doing in a substantiated, research-driven manner. Tools for retail data analysis are continually becoming more advanced. In Chapter 8 I provided an overview of best practices followed by retailers such as Tesco to better connect with shopper needs through loyalty card programmes. In this chapter I look into one of the most advanced approaches: big data analysis.
At the start of my career, research company Nielsen provided me with printed market reports. Although the reports only showed basic indicators such as numeric distribution and unit sales with a reporting frequency of two months, I thought it was a lot of data. ...
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