How might each method feed into data analytics workflows

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Reference no: EM133992575

Problem

Ban 120: Video discussion Group 3 members: Sheheryar Lodhi Fisayo Adeyinka Cheuk Ying Lau Yinglin Yang. What specific methods did Ray Burke describe for tracking shopper behavior? How might each method feed into data analytics workflows? Ray Burke touched on several methods of how retailers track shopper behavior and pattens. Eye-tracking data was mentioned that measures shelf and product visibility which in turn informs the store's product design and placement decisions. Transactional data was described that it shows what items customers buy together which is used for forecasting, basket analysis and segmentation. Get the best quality Business management assignemnt help. Video and 3D imaging is also used by stores to track customer walk paths, dwell time per shelf and how long they pause in a certain area to be converted to heatmaps and journey clusters to help with store layout optimization. Ray also mentioned conducting Virtual store simulations to test promotional strategies and store layouts to test evidence before formally rolling it out across stores. How can retailers use this data to anticipate consumer needs? What analytics models or features are implied (e.g., clustering, predictive modeling)?

Reference no: EM133992575

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