Chapter 3, Problem 8HMP

Explanation of Solution

Data that is to be collected:

• The demographic information collected from the external sources will help each of the stores to analyse its local customers well and also to distinguishably identify the typical customer who is to shop at their store.
• Focusing on the local market places will help the Macy’s store managers to target the local markets better than its competitors.
• Localization according to weather and time data is to be tracked.

How can the data help the management:

• By collecting the small pieces of sales data from category of product, price, style and time of purchase, each individual store can estimate the local sales...