Assisted an Eye-wear Retailer in Planning Stores
A large eye-wear manufacturer came to us with many different variables regarding the preferences and sensitivity of individuals to price of glasses, style of glasses, children and adult glasses, size and location of the stores, internal and external labs, gender and age of the client, and several other client and retail factors. We conducted a cluster analysis to help the company group individuals and retail factors so they could design and fill the stores with the correct products. In cluster analysis, the goal is to use the data to group individuals into clusters or segments and also to help determine markets. We used K-means clustering which found a clusters’ center than grouped participants around that center and Hierarchical clustering which treated each participant as a separate cluster then grouped them into larger and larger clusters. Additionally, we created an excel engine so the client could continue to add observations and determine their particular cluster.
Our Solutions
Every organization collects information and every organization measures metrics including job satisfaction, employee turnover, leadership, and other metrics.
Traditionally, the statistics reported to upper management are descriptive in nature. Unfortunately, when only descriptive statistics are reported many of the patterns and inferences that can be drawn from the data are never revealed, and businesses are left with a report on what happened rather than business intelligence forecasting what will happen.
Predictive analytics uses quantitative methods to derive business insights from data. These methods help predict, pattern, forecast, optimize, and classify human relationships and behaviors, and various business outcomes. Simply put, predictive analytics leverages your data, empowering you to make proactive, fact-based decisions.
The reports and data visualization of predictions, patterns, and forecasts can assist management in optimizing their decision making.
The Statistics Solutions Difference
At Statistics Solutions, our mission is to make data meaningful, enhancing our clients programs, practices, and overall business. We’ve worked with retailers and manufacturers, small, medium, and large organizations, profit and not-for-profit, start-ups and established companies, both in and out of the United States to assist in decision making, gain business intelligence, and increase their competitive edge.
“Businesses more than ever need meaningful research and digestible information for today’s business intelligence and decision making”
Statistics Solutions thrives on understanding our client’s needs, thinking through their problems, and delivering more than expected. Our innovative solutions and customized services produce applied findings where clients are empowered to make informed business decisions, and their bottom line grows.
We can assist with measuring and advanced reporting of the following metrics:
…and many more!
If you’d like to learn more about how we can assist your organization, please feel free to schedule a one-hour consultation to discuss your metrics. You may call us at 877-437-8622 or email info@statisticssolutions.com.
