What is meant by Article analysis?
The term "item analyses" refers to the systematic examination and evaluation of data regarding various items within a company. These analyses help understand purchasing behavior, sales performance, inventory levels, and other relevant product information. The goal of item analyses is to make informed decisions about assortment planning, pricing strategies, and marketing tactics.
Typical software functions in the area of "item analyses":
- Data Aggregation: Consolidation of sales, inventory, and pricing data to create comprehensive analyses.
- KPI Dashboards: Visualization of key performance indicators (KPIs) for quick assessment of item performance.
- Trend Analyses: Identification of sales and usage trends over specific periods.
- Revenue Analyses: Evaluation of revenues per item group or item to assess profitability.
- Inventory Analyses: Review of stock levels to avoid shortages or overstock situations.
- Market Analysis: Comparison of item prices and sales with competitor products to optimize pricing strategies.
Examples of "item analyses":
- Top Seller Analysis: Identification of the best-selling items over a specific time period.
- Sales Forecasting: Prediction of future sales figures based on historical data and market trends.
- Basket Analysis: Examination of which items are frequently purchased together to identify cross-selling opportunities.
- Seasonality Analysis: Analysis of sales figures in relation to seasonal factors to optimize inventory management.
- Return Analysis: Evaluation of the profitability of individual items to make decisions about assortment adjustments.
- Pricing Recommendation Analysis: Determination of optimal pricing strategies for items based on competitive analyses and demand.