The Moneyball series continues! Just as sabermetrics provides predictions of future performance for a given baseball player or team, retailers can use sophisticated AI and machine-learning forecasting to accurately predict retail performance. Get in the game!
Dan Bursik, Vice President of Product Management
There are several components involved in building a workforce management system capable of delivering competitive advantage to retailers. If you depict those components in simplified process order, you typically get something like this:
Julie Bushee, Retail Labor Manager
In the ideal retail situation, labor analysts can focus their attention on data interpretation, allowing their information technology to do heavy data mining. Alas, this is rare. Many labor teams require analysts to gather and shape data prior to analysis. In the worst-case scenarios, retailers have Read more
Information technology upgrades can be costly and deprioritized for retailers. In doing so, many forego financial fruit in areas like forecasting. Discover several reasons to reconsider postponing your next IT expenditure!
Specialty retailers contend with hidden traffic making it difficult to measure workload. Three options come to mind to overcome this struggle. Specialty operators must measure the data accurately to optimize the store planning continuum.
Part One covered unified commerce’s impact, Industry 4.0’s onset, traditional retailer adaptations and long-term solutions. We referenced data mining, forecasting, scheduling and mobile solutions as opportunities for brick-and-mortar institutions to optimize their workforce while preserving customer service. In Part Two, we focus in on forecasting and scheduling.
In my previous blogs related to effective forecasting I have covered several basic concepts that carry forward into this discussion. Whether you want to…
In my last blog I talked about the need for accurate forecasting as a vital link in the chain of your labor management and operational planning and execution…
You can’t create a good schedule from a bad forecast. That’s the plain and simple truth in effective labor management and labor scheduling. If the goal is…