Significant Factor Analysis
Ten years ago the best retail operations managers were those who seemed to have an intuitive sense of what drives the organization. “There's a person who really knows the business,” they would say. Today, the factors that impact performance can be identified, measured and controlled. By understanding the individual impact of each factor, internal (such as labor supply, layout, processes, etc.) as well as external (such as demographics, economy, competition, etc.), managers can make better decisions about how to manage their retail operations in order to reduce costs and grow their revenue.
At KIRAN Analytics we perform the analysis to establish the correlation and the cause and effect of each factor impacting your performance. With the use of advanced statistical and data mining techniques, we analyze all factors suspected to have an impact, identify the factors with statistical significance, and precisely quantify the impact of these factors on performance.