Retail Data Analytics Glossary

Mean Absolute Percentage Error; a statistical metric used to measure the accuracy of a demand or sales forecast by expre...

A permanent or temporary reduction in the retail selling price of a product, typically used to clear slow-moving or end-...

The data-driven process of determining the optimal timing and depth of price reductions to clear slow-moving or seasonal...

A retail strategy and data framework that integrates customer experience and analytics across all physical and digital t...

The integrated analysis of customer behaviour and sales data across all retail touchpoints—physical stores, e-commerce,...

A merchandise budgeting metric representing the remaining inventory purchasing capacity available to a buyer within a de...

A visual diagram or schematic that prescribes how and where products should be displayed on retail shelving.

Abbreviation for planogram; a schematic detailing the precise product placement on retail shelving.

A measure of how sensitive consumer demand for a product is to a change in its price, expressed as a ratio.

The incremental increase in sales volume or revenue attributable to a specific promotional activity, above the baseline...

A customer scoring framework that evaluates Recency, Frequency, and Monetary value of purchases to segment and rank reta...

A customer segmentation framework that scores customers on Recency, Frequency, and Monetary value of their purchases.

A performance metric comparing sales revenue of retail stores that have been open for at least one full comparable perio...

The percentage of available inventory sold during a given period, used to gauge product demand relative to stock levels.

The loss of retail inventory due to theft, administrative error, supplier fraud, or damage, measured as a percentage of...

Stock Keeping Unit; a unique alphanumeric identifier assigned to a distinct product variant for inventory and sales trac...

A retail performance metric that measures the revenue generated per unit of floor or shelf space allocated to a product...

A unique alphanumeric identifier assigned to a specific product variant for inventory tracking and sales analysis.

A situation in which a product is unavailable for purchase because inventory has been fully depleted before replenishmen...

Weekly Sales, Stock, and Intake; a retail planning document tracking actual and forecast sales, stock levels, and incomi...