Question
How might Target use data analytics to help make decisions? In a recent visit in early February to a Target (NYSE: TGT) store in northeast
How might Target use data analytics to help make decisions?
In a recent visit in early February to a Target (NYSE: TGT) store in northeast Ohio, snow shovels were on display next to swimming suits, offering an interesting juxtaposition. [The average temperature in northeast Ohio in February is about 31 Fahrenheit, accompanied by an average monthly snowfall of about 15.]
An article in the Wall Street Journal recently highlighted how the Fashion Institute of Technology in New York City recently began offering a course entitled Predictive Analytics for Planning and Forecasting: Case Studies with Weatherization. The course involves how companies might use big data related to weather to help to make predictions for decisions about when to stock certain types of clothing.
Questions
- Think about Target or another discount store retailer. How might it make use of big data related to weather? Explain.
- What other types of big data might be useful to Target or other discount store retailers? Explain.
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