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A platform for research: civil engineering, architecture and urbanism
Analytical Business Model for Sustainable Distributed Retail Enterprises in a Competitive Market
Retail enterprises are organizations that sell goods in small quantities to consumers for personal consumption. In distributed retail enterprises, data is administered per branch. It is important for retail enterprises to make use of data generated within the organization to determine consumer patterns and behaviors. Large organizations find it difficult to ascertain customer preferences by merely observing transactions. This has led to quantifiable losses, such as loss of market share to competitors and targeting the wrong market. Although some enterprises have implemented classical business models to address these challenging issues, they still lack analytics-based marketing programs to gain a competitive advantage to deal with likely catastrophic events. This research develops an analytical business (ARANN) model for distributed retail enterprises in a competitive market environment to address the current laxity through the best arrangement of shelf products per branch. The ARANN model is built on association rules, complemented by artificial neural networks to strengthen the results of both mutually. According to experimental analytics, the ARANN model outperforms the state of the art model, implying improved confidence in business information management within the dynamically changing world economy.
Analytical Business Model for Sustainable Distributed Retail Enterprises in a Competitive Market
Retail enterprises are organizations that sell goods in small quantities to consumers for personal consumption. In distributed retail enterprises, data is administered per branch. It is important for retail enterprises to make use of data generated within the organization to determine consumer patterns and behaviors. Large organizations find it difficult to ascertain customer preferences by merely observing transactions. This has led to quantifiable losses, such as loss of market share to competitors and targeting the wrong market. Although some enterprises have implemented classical business models to address these challenging issues, they still lack analytics-based marketing programs to gain a competitive advantage to deal with likely catastrophic events. This research develops an analytical business (ARANN) model for distributed retail enterprises in a competitive market environment to address the current laxity through the best arrangement of shelf products per branch. The ARANN model is built on association rules, complemented by artificial neural networks to strengthen the results of both mutually. According to experimental analytics, the ARANN model outperforms the state of the art model, implying improved confidence in business information management within the dynamically changing world economy.
Analytical Business Model for Sustainable Distributed Retail Enterprises in a Competitive Market
Courage Matobobo (author) / Isaac O. Osunmakinde (author)
2016
Article (Journal)
Electronic Resource
Unknown
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