A retail data analysis is a document that makes considerable use of certain software and technologically sound methods to analyze data relating to the sale of goods and services, financial transactions involved, profits gained in the market, customer interaction with service provider and respective client feedback, etc. in small-scale or retail businesses and companies. Such an analysis serves well to improve products and increase service efficiency and also to develop products according to market demands and at appropriate prices.
Sample Retail Data Analysis:
Name of the company preparing the retail data analysis: Sunrise Corporations Pvt. Ltd.
Product under study: Intel Transistors.
Subject of the retail data analysis: Use of the particular product among people of the age group of 45 – 60 years.
Purpose of the analysis: The basic objective of incorporating analytical tools and techniques for the analysis of the said data is to study the patterns of the influence of the product in the market and to understand the trends properly, by use of large databases, so as to make proper decisions and design further developmental processes.
Methods employed for data analysis:
- Sales reports and productivity analysis.
- Proper management of Inventory.
- Analysis of market data and forecasting.
- Categorical identification of market trends, seasonality impact and customer responses.
- Clustering and segmentation of clients and examining respective structured data.
- Recognition of possible causes, that might remain undiscovered but could have secretly led to losses.
The transistor has been well-accepted by people of this particular age-group, as an effective means of entertainment as well as information. The product, however, needs to be publicized in the comparatively remote areas, which can easily afford the same but have not as yet possibly due to lack of proper advertisement. An approximate 78% of the involved population has accepted the product with positive reviews.
Report prepared by: Marc Stephenson.