Correlation Analysis
To analyse the relationships in order to determine the existence of, and measure the degree of association between, two sets of occurrences or groups...
Setting Priorities for Customer Service
Providing customers with the level of supply service they require is always a priority. However, it must be recognised that no budget is unlimited...
Quantifying the Effect of Shrinkage on your Business
Shrinkage can be defined as the unexplained loss of products from shoplifting, errors in paperwork and employee theft, all of which can have a...
Determining Strategies for Limiting Brand Switching and Increasing Market Share
For products which have a reasonably regular repeat purchase cycle, but where there are marginal differences between brands, consumer substitution can have a substantial...
Forecasting Expected Values Using Probability Decision Trees
One application of probability is the concept of forecasting expected values. By this we mean incorporating subjective probability, i.e. using our existing knowledge to...
