What sort of analysis do people run using transaction-level epos data?
I've been asked to do some analysis of a retailer's store-level EPOS data. I've been sent the client's transactional data for two stores for a month.
I've been challenged to come up with some valuable 'new' insights from this data; if we do a good job then there's a high chance that we'll be commissioned to set up similar reports for all the client's stores.
I've got a few ideas but I'm looking for more: are there any examples out there of best practice reports that can help store managers us this data effectively?
Good Answers (1)
Rahul G
Associate Consultant (Oracle eBS - Supply Chain Management) at Evosys
Best Answers in: Supply Chain Management (3), Purchasing (1), Business Analytics (1)
Simon, let us first jolt down - what you have got?
Domain: EPOS
Level: Stores
Number: 2
Type of Data: Transactional
Period: 2 months
What kind of "insights" can be derived?
1. Period-2-Period comparative analysis
2. Daily Sales Analysis - ( Item Specific / Category Specific)
3. Inventory Transaction Analysis integrated with store-level procurement system
What kind of "new-insights" can be derived?
1. Affinity Analysis - i.e; Market Basket Analysis - what customers purchase along with items on promotion. For instance, customers are very likely to purchase shampoo and conditioner together, so a retailer would not put both items on promotion at the same time. The promotion of one would likely drive sales of the other.
2."Alpha Consumer" Analysis : Alpha Consumers are people that play a key roles in connecting with the concept behind a product, then adopting that product, and finally validating it for the rest of society. Analyzing the data collected on these type of users has allowed companies to predict future buying trends and forecast demands
What will be the report generation parameters?
1. Delivery of Report - (weekly, monthly, annually or on-demand)
2. Level of Reporting Details (store level integrated with zonal level/regional level distribution)
3. Quality of Report (Quantifiable or Non-Quantifiable/ Competitive or Non- Competitive)
More Answers (1)
there are several comparisons that can be run with this data most related to the customer and their buying habits. In addition at it relates to stock items, you can data mine events surrounding the purchases, how much they spend, what time of day, etc.
