Retail Sales Analysis

Retail Sales Analysis

Business Domain: Retail

Problem Statement: The retail company is experiencing a decline in sales and wants to analyze sales data to identify trends, optimize product offerings, and improve overall revenue.

Domain-Specific Requirements:

  • Analyze historical sales data by product category, location, and time period.
  • Identify seasonality and trends in sales.
  • Optimize inventory management to reduce stockouts and overstocking.
  • Improve sales forecasting accuracy.
  • Incorporate data from customer loyalty programs and social media sentiment analysis.
  • Implement a recommendation engine based on customer purchase history.
  • Utilize IBM Cognos Analytics’ AI-driven features for automated insights generation.

Solution Provided:

  • Utilized IBM Cognos Analytics for comprehensive data visualization and analysis.
  • Integrated data from POS systems, inventory databases, and external market data sources.
  • Developed interactive dashboards and reports for real-time sales tracking.
  • Implemented advanced analytics algorithms to predict future sales trends.

Technical Tools Used:

  • IBM Cognos Analytics
  • SQL for data extraction
  • Python for predictive analytics

Achievements:

  • Increased sales by 12% within the first year.
  • Reduced inventory holding costs by 15%.
  • Improved sales forecasting accuracy by 20%.

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