Enhancing Retail Resilience: A Comprehensive ...

Enhancing Retail Resilience: A Comprehensive Analysis of Data-Driven Strategies and Insights

Author Name : Uday Vallabhaneni , Rohith Sai Midigudla , Yatish Wutla , Tribhangin Dichipally

ABSTRACT This research seeks to advance our understanding of how retailers harness customer relationship management (CRM) alongside business intelligence and data mining tools. Our primary focus is the analysis of commercial sales and consumer demand for specific products and services. Through this analysis, we aim to illuminate the strategies that empower companies to maintain market leadership and gain a competitive edge.We investigate three distinct datasets: commercially available products and customer demographics, customer purchasing behavior in relation to specific products, and the market performance of various products. These insights provide businesses with invaluable information to refine their product development, launch, and market execution strategies. Additionally, our study explores the objectives and techniques employed by retail stores, especially in the realms of marketing, customer service, and data-informed decision-making. Statistical analysis and data mining tools are central to these efforts, contributing to improved customer acquisition and retention through the implementation of loyalty programs. Our findings offer critical insights into the challenges faced by retailers as they transition toward a more customer-centric business approach.