Analytics for Retail: A Step-By-Step Guide to the Statistics Behind a Successful Retail Business
DescriptionExamine 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
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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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).