Analytics in Retail
Published Online: 15 FEB 2011
Copyright © 2010 John Wiley & Sons, Inc. All rights reserved.
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. .
- Published Online: 15 FEB 2011
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.
- promotion forecasting;
- Assortment Planning;
- Price optimization;
- shelf-space allocation;