Analytics for Retail: A Step-by-Step Guide to the Statistics Behind a Successful Retail Business

Analytics for Retail: A Step-by-Step Guide to the Statistics Behind a Successful Retail Business

by Rhoda Okunev
Analytics for Retail: A Step-by-Step Guide to the Statistics Behind a Successful Retail Business

Analytics for Retail: A Step-by-Step Guide to the Statistics Behind a Successful Retail Business

by Rhoda Okunev

Paperback(1st ed.)

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Examine select retail business scenarios to learn basic mathematics, as well as probability and statistics required to analyze big data. This book focuses on useful and imperative applied analytics needed to build a retail business and explains mathematical concepts essential for decision making and communication in retail business environments.

Everyone is a buyer or seller of products these days whether through a physical department store, Amazon, or their own business website. This book is a step-by-step guide to understanding and managing the mechanics of markups, markdowns, and basic statistics, math and computers that will help in your retail business. You'll tackle what to do with data once it is has accumulated and see how to arrange the data using descriptive statistics, primarily means, median, and mode, and then how to read the corresponding charts and graphs.

Analytics for Retail is your path to creating visual representations that powerfully communicate information and drive decisions.

What You'll Learn

• Review standard statistical concepts to enhance your understanding of retail data
• Understand the concepts of markups, markdowns and profit margins, and probability
• Conduct an A/B testing email campaign with all the relevant analytics calculated and explained

Who This Book Is For

This is a primer book for anyone in the field of retail that needs to learn or refresh their skills or for a reader who wants to move in their company to a more analytical position.

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Product Details

ISBN-13: 9781484278291
Publisher: Apress
Publication date: 06/26/2022
Edition description: 1st ed.
Pages: 150
Sales rank: 1,191,307
Product dimensions: 5.90(w) x 9.00(h) x 0.50(d)

About the Author

Rhoda Okunev is an Associate in Professional Studies at Columbia University’s School of Applied Analytics department. Rhoda teaches math and statistics at Nova Southeastern University. Rhoda taught at the Fashion Institute of Technology Continuing Education department in the Retail Analytics department where she created her own Applied Analytics course. She also taught math and statistics at the Fashion Institute of Technology in New York.

Rhoda has a Master’s in Mathematics from the Courant Institute at New York University, a Master’s in Biostatistics from Columbia University, and a Master’s in Psychology from Yeshiva University. She also has an Advanced Certification in Finance from Fordham University. Rhoda has worked in portfolio management and market risk for over 10 years at a rating agency, clearing house and bank. Rhoda has also extensive experience in research and statistical programming at Harvard University, Massachusetts General Hospital, Columbia Presbyterian Hospital, Cornell Medical Center, Massachusetts Department of Public Health, and Emblem Health (HIP).

Table of Contents

Analytics for Retail

Chapter 1: The Basics of Statistics

Chapter 2: The Normal Curve

Chapter 3: Probability and Percentages and Their Practical Business Uses

Chapter 4: Retail Math: Basic, Inventory, Productivity, and Growth Rate Metrics

Chapter 5: Financial Ratios

Chapter 6: Using Frequencies and Percentages to Create Stories from Charts

Chapter 7: Hypothesis Testing and Interpreting Results

Chapter 8: Pearson Correlation and Simple Regressions

Chapter 9: Independent t-test

Chapter 10: Putting it all Together: An Email Campaign

Chapter 11: Forecasting: Planning for Future Scenarios

Chapter 12: Epilogue

Appendix A: Accounting Spreadsheet

Appendix B: Book Email Spreadsheet

Appendix C: Forecasting Spreadsheet

Appendix D: Data Types

Appendix E: Math Review

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