Course Description
This course introduces a range of retail analytics used in fashion and retail industries, with an emphasis on developing advanced Excel skills and applying statistical tools to analyze consumer data using both supervised and unsupervised analytical methods.
Additional Requirements for Graduate Students:
Graduate students will be required to create, distribute, collect, and analyze surveys (e.g., consumer data) to write a detailed report using statistical tools that they learned in class. A final report of the data analysis with interpretation will be required as well.
Athena Title
Retail Analytics
Undergraduate Pre or Corequisite
(TXMI 3210 or TXMI 3210E) and (STAT 2000 or STAT 2000E or STAT 2100H) and TXMI 3240
Grading System
A - F (Traditional)
Student learning Outcomes
- Students will understand and apply retail analytics tools and technologies, including advanced Excel functions, to support strategic decision making in the fashion and retail industries.
- Students will analyze challenges and managerial decisions in retail environments using consumer and sales data.
- Students will practice evidence-based decision-making through statistical analysis and analytical modeling in retail environments.
- Students will develop practical skills in advanced Excel, database marketing, and data mining.
- Students will integrate analytical thinking and data literacy skills to decide on a team in the retail environment.
Topical Outline
- Module I: Introduction to retail analytics
- What are retail analytics?
- Module II: Key elements of retail analytics
- Strategic planning
- Relationship theories
- Customer experience management (IDIC model: IDENTIFY, DIFFERENTIATE, INTERACT, CUSTOMIZE)
- Retail touchpoints
- Module III: Technologies and retail analytics
- Data mining overview
- Artificial Intelligence and machine learning in retailing
- Virtual reality and metaverse in retailing
- Module IV: Data mining practices
- Survey design
- Data presentation
- Descriptive statistics
- T-test and ANOVA
- Regression
- Decision tree
- Market basket analysis
Institutional Competencies Learning Outcomes
Analytical Thinking
The ability to reason, interpret, analyze, and solve problems from a wide array of authentic contexts.
