Retail Outlet Success

Requirements Clarification & Assessment

Before diving into the analysis, it's crucial to clarify the objectives and constraints of the task:

1. Objective Clarification:

   • Identify the factors contributing to the success of the thriving outlet.
   • Understand the reasons behind the underperformance of other outlets.
   • Propose actionable strategies for improvement.

2. Scope Definition:

   • Are we focusing on specific metrics such as revenue, foot traffic, or customer satisfaction?
   • Is there a geographical focus, or are outlets spread across different regions?
   • What is the time frame for the data analysis? Are we looking at recent data or historical trends?

3. Stakeholder Input:

   • Engage with stakeholders, including retail managers, marketing teams, and financial analysts, to gather insights on perceived challenges and successes.

4. Data Availability:

   • Assess the availability and quality of data related to sales, customer demographics, marketing efforts, inventory, and employee performance.
   • Determine if there are any data privacy concerns or limitations that need to be addressed.

5. Constraints Identification:

   • Time constraints for delivering the analysis.
   • Budgetary limitations for implementing proposed enhancements.