Standard Article

Analytics in Retail

  1. Diego Klabjan1,
  2. Yan Jiang1,
  3. Loren Williams2

Published Online: 15 FEB 2011

DOI: 10.1002/9780470400531.eorms0999

Wiley Encyclopedia of Operations Research and Management Science

Wiley Encyclopedia of Operations Research and Management Science

How to Cite

Klabjan, D., Jiang, Y. and Williams, L. 2011. Analytics in Retail. Wiley Encyclopedia of Operations Research and Management Science.

Author Information

  1. 1

    Northwestern University, Department of Industrial Engineering and Management Sciences, Evanston, Illinois

  2. 2

    Predictix, EVP and Chief Scientist, Atlanta, Georgia

Publication History

  1. Published Online: 15 FEB 2011

Abstract

Retailing has always been an active research area for OR/MS researchers. Nowadays, the collaboration between retail practitioners and academic researchers yield more and more useful analytical models and solution algorithms to tackle complicated retail problems. This article illustrates two types of commonly-used analytic in retail practice, namely forecasting and optimization, using two models that are in production use or development in retail business settings.

Keywords:

  • promotion forecasting;
  • Assortment Planning;
  • Price optimization;
  • shelf-space allocation;
  • retailing