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Retail Analytics In Microsoft Excel

Retail Analytics In Microsoft Excel

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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

Who is this Course for?

  • 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.

Entry Requirements

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.

Assessment

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%.

Advance Your Career

This    course will provide you with significant opportunities to enter the relevant job market and select your desired career path. Additionally, by showcasing these skills on your resume, you will be able to develop your career, face more competitors in your chosen sector, and increase your level of competition.

If you are looking for a Customer Value and Promotion Strategy Course course enrol on our affordable and highly informative course, which will open your door towards a wide range of opportunities within your chosen sector.

Recognised Accreditation

 

CPD

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.

QLS

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.

Course Curriculum

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

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671 Minutes

CPD UK & QLS

Included

1 Year

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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.