Use of Data Science for Promotion Optimization in Convenience Chain
Sławomir Mazurowski , Elżbieta Lewańska
AbstractThis paper describes research being conducted in field of promotion planning and optimization for a chain of convenience stores. The motivation for choosing this subject is an important role of promotions in retail market and availability of large amount of data that can be used to improve profitability of promotions. In addition, most of existing studies analyzed promotions in super- and hypermarkets which have a different sales characteristic than a convenience chain. Since transaction amount is typically small (in comparison to transactions in bigger stores), we want to check whether findings from previous studies can be confirmed in our testing environment. In this paper, we show how both internal and external data can be used in order to improve accuracy of forecasts and obtain more reliable performance metrics. The thesis and research goals are presented along with key results of literature review.
|Publication size in sheets||0.55|
|Book||Abramowicz Witold, Corchuelo Rafael (eds.): Business Information Systems Workshops: BIS 2019 International Workshops Seville, Spain, June 26-28, 2019, Revised Papers, Lecture Notes in Business Information Processing, vol. 373, 2019, Springer, ISBN 978-3-030-36690-2, [978-3-030-36691-9], 698 p., DOI:10.1007/978-3-030-36691-9|
|Keywords in Polish||planowanie działań promocyjnych, optymalizacja działań promocyjnych, retail, sklepu convenience, data-driven decision making|
|Keywords in English||Promotion planning, Promotion optimization, Retail, Convenience store, Data-driven decision making|
|ASJC Classification||; ; ; ; ;|
|Score||= 70.0, 22-04-2020, ChapterFromConference|
* presented citation count is obtained through Internet information analysis and it is close to the number calculated by the Publish or Perish system.