New Normal, New Tools–How to Combat Loss with Prescriptive Analytics | Ep. 29
Consumer behavior is changing, and retailers need to be sure they have a clear line of sight into how those changes are impacting their business. As they reopen, challenges around satisfying demand, optimizing store operations, and protecting profits are intensified by the lack of a timely and accurate understanding of data behaviors. To appeal to customers in this “new normal,” retailers need a prescriptive approach to data analysis that can provide them with insights that help them adapt to the ever-evolving needs and expectations of modern consumers. In this podcast, Director of Operations Terry Stanley, who is responsible for asset protection, workforce management, and store safety, talks about how Lowes Foods leveraged prescriptive analytics to drive insights that provided a deeper understanding of what was truly happening in their business as the pandemic changed consumer buying behavior.