Jenna Lee week 5 assignment 1 Essay

Submitted By chamorean
Words: 315
Pages: 2

Famous Footwear
Jenna Lee
JULY 16, 2015
Deborah Ray-Sims
Famous Footwear
So many retails business's should have various ways in reducing costs. Famous Footwear is definitely one of those among other retail companies, who look for a wide variety of ways to do so. One of the most powerful tools available to Famous Footwear is analytics and this tool is used for a broad variety of purposes to the retail business. Retails like Famous Footwear who are organized typically use analytics to optimize various aspects of their business. These aspects include Product Assortment, Pricing Optimization, Customer Experience Management and more. With Famous Footwear, there are so many questions within the retail organization, where analytics can be used to provide such fast and accurate solutions to problems. In the retail business, there are large amounts of data collected. In order for Famous Footwear to achieve business goals such as lowering the production costs, maintaining customer relationships, traditional analysis and business intelligence, these tools are not sufficient for the analysis of the collected data. The promising approach to the processing and analysis is what to be considered data mining. These techniques include algorithms in artificial intelligence and pattern recognition. Famous has done numerous research on data mining application and therefore, continues to grow and a retail industry. Customer Service is what makes Famous Footwear who they are. It is