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Course info
Duration
Accredited by
Tutor Support
Course Access
671 Minutes
CPD UK & QLS
Included
1 Year
Maximise your retail insights with our retail analytics in MS Excel course. Understand the power of data-driven decision-making as you learn to analyse retail trends. optimise inventory and enhance business performance using advanced Excel techniques.
What will you learn from this course?
- Understand what is retail analytics and how does it work
- Learn the benefits of retail analytics
- Identify the types of retail data analytics
- Familiarise with how retail analytics used
- Learn retail analytics tools
- Acquire how to drive more revenue by leveraging retail analytics software
- Explore sale forecasting with retail analytics
- Get ideas about demand forecasting
- Understand market basket analysis
- Learn foot traffic counter
- Know how to calculate average transaction value
- Get retail conversion rate
- Discover inventory carrying cost
- Understand how to use regression analysis to forecast sales
- Learn how to improve profit margins
Retail Analytics In Microsoft Excel Course
This is a comprehensive designed course which will help you to acknowledge the required skills you need to calculate the retail analytics in Microsoft Excel. You will learn how to forecast demand and sales using particular methods to analyse the revenue beforehand. Other key concepts have been covered in this course to get a better comprehension . By the end of the course, you will be able to understand how to improve profit margins to enhance the business growth with the help of our expert’s guidance.
- Understand the basics of retail analytics
- How to drive revenue with retail analytics software
- Apply market basket analysis to increase sales
- Reduce inventory carrying cost
- Develop forecasting skills with analytics tool
- This course is for new retail owners who want to develop expertise in collecting, analysing, and reporting on data related to retailing operations
- This course is suitable for entrepreneurs who want to improve their profit margin growth
- This course is ideal for newcomers who want to understand retail analytics to analyse customer behaviour and effectiveness of marketing campaign
- Retail managers who want to understand the process of collecting and studying retail date with retail analytics tools can enrol in this course
- Individuals who want to develop their own retail business can join and learn key takeaways with analytical data on inventory levels, forecasting sales, analysing revenue and more.
This course has no academic prerequisites and is open to students from all academic disciplines. You will, however, need a laptop, desktop, tablet, or smartphone and a reliable internet connection.
This course assesses learners through multiple-choice questions (MCQs). Upon completing the modules, learners must answer MCQs to complete the assessment procedure.
- Through the MCQs, it is measured how much a learner can grasp from each section.
- In the assessment, the pass mark is 60%.
Course Introduction
- Introduction
Part 1: Forecasting
- Basics of Forecasting
- Creating Linear Model with Trendlines
1.1 Getting Data Ready For Regression Model
- Gathering Business Knowledge
- Data Exploration
- The Data and the Data Dictionary
- Univariate analysis and EDD
- Discriptive Data Analytics in Excel
- Outlier Treatment
- Identifying and Treating Outliers in Excel
- Missing Value Imputation
- Identifying and Treating missing values in Excel
- Variable Transformation in Excel
- Dummy variable creation: Handling qualitative data
- Dummy Variable Creation in Excel
- Correlation Analysis
- Creating Correlation Matrix in Excel
1.2 Forecasting Using Regression Model
- The Problem Statement
- Basic Equations and Ordinary Least Squares (OLS) method
- Assessing accuracy of predicted coefficients
- Assessing Model Accuracy: RSE and R squared
- Creating Simple Linear Regression model
- Multiple Linear Regression
- The F – statistic
- Interpreting results of Categorical variables
- Creating Multiple Linear Regression model
1.3 Handling Special Events Like Holiday Sales
- Forecasting in presence of special events
- Excel: Running Linear Regression using Solver
- Excel: Including the impact of Special Events
1.4 Identifying Seasonality & Trend for Forecasting
- Models to identify Trend & Seasonality
- Excel: Additive model to identify Trend & Seasonality
- Excel: Multiplicative model to identify Trend & Seasonality
Market Basket Analysis
- Market Basket and Lift – Introduction
- Named Ranges – Excel
- Indirect Function – Excel
- 2-way lift calculation in Excel
- 2-way lift calculation – Dynamic
- 2-way lift data table creation
- 3-way lift calculation
- Store Layout optimization using Lift values
RFM (Recency, Frequency, Monetary) Analysis
- RFM (recency, frequency, monetary) Analysis
- RFM Analysis in Excel- Part 1
- RFM Analysis in Excel- Part 2
Part 2: Pricing
- Steps of setting a Pricing policy
- Different Pricing Objectives
2.1 Estimating Demand
- Estimating Demand
- Forms of Demand Curve
- Excel: Estimating Linear Demand Curve
- Excel: Estimating Power Demand curve with Elasticity
- Excel: Estimating Power Demand Curve with points
- Subjective Demand curve
- Excel: Estimating Subjective Demand Curve
2.3 Evaluating Pricing Strategies
- Price Bundling
- Types of Bundling
- The Bundling Problem
- Excel: Solving Bundling problem Part 1
- Excel: Solving Bundling problem Part 2
- Non-Linear Pricing Strategies
- Excel: Solving Bundling problem (Price Reversal)
3.1 Lifetime Customer Value
- Lifetime Customer Value – Key concepts
- Lifetime Customer Value – Excel model
3.2 Variations And Sensitivity Analysis
- Sensitivity Analysis in Excel
- Variations in finding customer value
Appendix 1: Excel Crash Course
- Basics
- Worksheet Basics
- Entering values and Formulas
- Data Handling Basics – Cut, Copy and Paste
- Saving and Printing – Basics
- Basic Formula Operations
- Mathematical Formulas
- Textual Formulas
- Logical Formulas
- Date-Time Formulas
- Lookup Formulas ( V Lookup, Hlookup, Index-Match )
- Data Tools
- Formatting data and tables
- Pivot Tables
- Advance Excel- Solver, Data tables
CPD certificates are accepted by thousands of professional bodies and government regulators here in the UK and around the world. Many organisations look for employees with CPD requirements, which means, that by doing this course, you would be a potential candidate in your respective field.
The Quality Licence Scheme is a brand of the Skills and Education Group, a leading national awarding organisation for providing high-quality vocational qualifications across a wide range of industries.
CPD UK And Accredited Certificate Of Achievement
On successful completion of this course, you will be eligible to order your CPD UK accredited certificate of achievement to demonstrate your new skills. The CPD accredited PDF certificate of achievement can be obtained free of cost, which is included in the course. There is an additional fee to get a printed copy certificate which is £25.
Endorsed Certificate From Quality Licence Scheme
On successful completion of the course assessment, you will be eligible to order the QLS Endorsed Certificate by Quality Licence Scheme. The Quality Licence Scheme is a brand of the Skills and Education Group, a leading national awarding organisation for providing high-quality vocational qualifications across a wide range of industries. This will provide you with a competitive edge in your career add extra value to your CV. You can also share this certificate with prospective employers and your professional network which will help you to drive a successful career in your chosen industry. There is a Quality Licence Scheme endorsement fee to obtain an endorsed certificate which is £65.
Course Success Stories
Course info
Duration
Accredited by
Tutor Support
Course Access
671 Minutes
CPD UK & QLS
Included
1 Year
0121 295 1244Course Review
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No prior knowledge is necessary for the course, making it ideal for beginners. However, a positive attitude toward learning is always a plus.
