The Retail Equation is based upon a very simple premise: the data to predict and shape consumer behavior can be collected, analyzed and optimized, and an immediate response can be generated to point-of-sale on every customer transaction.
Applying predictive analytics in real-time, in-store to affect the customer’s shopping experience is a new and bold endeavor. Whether building targeted incentives to add incremental revenue or recover lost sales, or monitoring transactions to identify and deter fraud and shrink, The Retail Equation uses a scientific approach in optimizing retail solutions.
Predictive Analytics and Modeling
Predictive analytics encompasses a variety of techniques from statistical modeling, data mining and scientific techniques that analyze current and historical facts to make predictions about future events.
In a retail environment, predictive models exploit patterns found in historical and transactional data to identify risks and opportunities. Models capture relationships among many consumer behavior factors to allow assessment of risk or potential associated with a particular set of conditions, guiding decision making for shopper-specific retail transactions.
PhD Statisticians and Best Practice Consulting
With an expanding customer base consisting of many different retail formats (apparel, footwear, sporting goods, auto parts, department store, and more), TRE’s data repository of sales and return transactions exceeds 5 billion records.
This data set enables our team of PhD statisticians the capability to develop of sophisticated revenue lift models, return fraud models, and best practices for transaction optimization. In addition, on-going refinement is made possible by searching for changes in return behavior across all retail formats—particularly new internal/external fraud schemes and organized crime rings—far beyond the scope of any individual retailer.
Improve Revenue Generation Models
Our data offers a wealth of predictive analytics insights into customer behavior. Our team of statisticians can design and test a variety of targeted incentive models to help determine those most likely to drive sales revenue in all types of shopper segments, retail formats, product assortments, and more.
