Data Analytics: Wise Panda Hardware Uses
Analytics- Questions and Answers
When we first opened the store one of the goals was to attract customers from a larger area than
just Foretville. Until WPH opened here, people from this town and surrounding towns had to
travel about an hour to get to any of those "Big Box" stores like Walmart. So my next question
would be... Are we attracting customers who are residents of the state but live outside of
Foretville?
Glad you asked... I made a list of some important considerations. Here's what I think. The first
thing we need to address is... Exactly what information on our inventory do we need?
Janey, please feel free to jump in at any time. I think we need to identify... several things:
First, items that have not sold more than 10% of the stock in the past year. Second, we need to
identify the items we added for skiing, fishing, and hunting and then track their sales. And
finally, we need to identify items that we almost can't keep on the shelves--the things that sell out
almost immediately.
And another important thing to consider is... Where should we get the data from?
There's one more thing to consider. We need to decide how much data should be collected. I
think... since we've only been open for a year and all the data is right there in the database,
why not collect all of it?
Analytics- Questions and Answers
When we first opened the store one of the goals was to attract customers from a larger area than
just Foretville. Until WPH opened here, people from this town and surrounding towns had to
travel about an hour to get to any of those "Big Box" stores like Walmart. So my next question
would be... Are we attracting customers who are residents of the state but live outside of
Foretville?
Glad you asked... I made a list of some important considerations. Here's what I think. The first
thing we need to address is... Exactly what information on our inventory do we need?
Janey, please feel free to jump in at any time. I think we need to identify... several things:
First, items that have not sold more than 10% of the stock in the past year. Second, we need to
identify the items we added for skiing, fishing, and hunting and then track their sales. And
finally, we need to identify items that we almost can't keep on the shelves--the things that sell out
almost immediately.
And another important thing to consider is... Where should we get the data from?
There's one more thing to consider. We need to decide how much data should be collected. I
think... since we've only been open for a year and all the data is right there in the database,
why not collect all of it?
