Category: Business

Market Basket Analysis with python

Very elegant example at http://blog.derekfarren.com/2015/02/how-to-implement-large-scale-market.html. What is below is just a complete script with what the link above provides, along with example of our output. Our file was formatted slightly differently, so we had to change the split command. We…

Credit card tokenization overview

You will often hear of online and in store retailers in which credit card numbers are stolen. This is often due to storing the card numbers locally in an encrypted status. As soon as a hacker obtains the encrypted value,…

Common retail terms defined

Inventory turn rate – How often you replenish inventory given its cost. The impact of this metric is to show efficiently inventory is managed. Dependent on the business, a low inventory turn rate can result in markdowns. For example, if…

Cost of Good Sold (COGS) and margins

This number represents what was spent in the direct production of goods for sale. For example, material used to produce clothing in a retail organization would fall in this category. Salaries for home office employees would not. If this number…