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How is Data Science & ML Applied in Retail Industry | Tutort Academy

<br>Data science is revolutionizing the retail industry. With the ability to gather and analyze massive amounts of customer data, retailers are gaining valuable insights to improve everything from supply chains to marketing campaigns. In a highly competitive landscape where the difference between success and failure depends largely on understanding the customer, data science has become an indispensable tool for retailers looking to stay ahead.

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How is Data Science & ML Applied in Retail Industry | Tutort Academy

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  1. Data Science & ML in RETAIL INDUSTRY R E T A I L Curated by

  2. tutort www.tutort.net What is DS & ML  in Retail? Data Science and Machine Learning are revolutionizing the retail sector. Retail giants and e-commerce companies are using these technologies to improve their operations and boost revenue. This technology is helping businesses in the retail industry streamline workflows and increase profits. Curated by

  3. tutort www.tutort.net Uses of data science and Machine Learning in Retail Industry Price Optimization Use machine learning to track resellers' conduct and ensure compliance with minimum advertised prices. Demand Prediction Improve inventory planning based on machine learning predictions of customer demand. Logistics Support Use machine learning algorithms to determine optimal delivery routes and enhance customer experience. From From To To our our Success Story Story Success Akansha Dhingra Akansha Dhingra Business Analyst Business Analyst

  4. tutort www.tutort.net Personalized Offers Utilize machine learning to evaluate user behavior and make tailored product suggestions. Predictive Analytics Leverage machine learning and AI to analyze historical and current data for better decision-making. Fraud Detection Utilize machine learning and AI to detect and prevent fraudulent activities during online purchases. From From To To our our Success Story Story Success Mohit Agrawal Mohit Agrawal Data Scientist at EY Data Scientist at EY

  5. tutort www.tutort.net Churn Rate Prediction Use machine learning to identify potential customer churn and take proactive measures to retain them. Location Optimization Target customers based on location and optimize delivery routes using machine learning. Courses Offered by Tutort Data Structures and Algorithms
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  6. tutort www.tutort.net BENEFITS OF DS/ML IN Retail DS/ML systems are used by Retail industries for a variety of reasons. The following are the most prevalent benefits of DS/ ML for Retail Industry: Establish Optimal Pricing for Products & Services Anticipate and Manage Inventory Levels Deliver Tailored Customer Experiences Identify Top Vendor Opportunities Enhance the Shopping Journey Monitor Customer Interactions at Various Touchpoints From From To To our our Success Story Story Success Awdhesh Choubey Awdhesh Choubey Business Analyst Business Analyst

  7. tutort www.tutort.net DATA ANALYTICS TOOLS FOR RETAIL Optimization Excel is commonly used for optimization purposes, but R and Python boast impressive optimization packages. Modeling R, SAS, and Python are popular tools in Retail for modeling. R and Python are now widely used, with specialized packages available for analysis. Segmentation SAS E miner is a well-known, pricey tool for segmentation. Alternatively, Knowledge Seeker, & Knowledge  Studio present more budget friendly options. Visualization & Dashboarding Tools Tools such as Spotfire, PowerBI, QlikView, Tableau, & SAS Visual Analytics, CXO have made a substantial impact in the Retail domain.

  8. tutort www.tutort.net Data Scientist Salary Trends In Retail Sector Company Name Average Annual Salary WALMART ₹ 31.1L Data Scientist Salary ₹ 11.0L ₹ 42.5L 2-9 yrs exp (29 Salaries) FUTURE GROUP ₹ 30.9L Data Scientist Salary ₹ 4.3L ₹ 66.0L 12 yrs exp (162 Salaries) KMART ₹ 21.7L Data Scientist Salary ₹ 6.0L ₹ 40.0L 2-5 yrs exp (95 Salaries) JUBILANT FOOD WORKS ₹ 25.4L Data Scientist Salary ₹ 12.0L ₹ 27.0L 2-6 yrs exp (12 Salaries) AMAZON ₹ 24.6L Data Scientist Salary ₹ 4.3L ₹ 66.0L 2-6 yrs exp (12 Salaries) MYNTRA ₹ 21.9L Data Scientist Salary ₹ 6.0L ₹ 40.0L 2-3 yrs exp(10 Salaries)

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