Business Proposal on Use of Analytics in Improving Outlets
Analytics involves the analysis of collected data over a period of time in order to use the historical trends to determine or forecast the future trends. In this respect, businesses often benefit by making informed guesses or decisions concerning their business and the future of those enterprises. This business proposal looks at the possibility of using analytics in determining the proper stocking of "The Cookbook" a gourmet bases in Los Angeles and may want to expand to other cities (Timeout, 2016).
Importance of analytics to The Cookbook
Use of data from the existing branches will help the management determine which branches had the highest number of customers and their location hence helping in determining the demographics of the possible new outlets.
The analytics should also be obtained from the existing branches in order to inform the management on the rate of stock turnover on each item hence they will be equipped with the knowledge of what items need to be stocked in the yet to be opened outlets and the quantities that need to be stocked.
The management will also be interested in the quality of the customers that visit each...
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