PindCart, a garment retailer, is not sure of the demand for its products during the festive seasons andends up with very little profit. Which of the following business intelligence tools can help PindCart to predict the demand and maximize its sales?
a. Drill-down analysis
b. Online analytical processing
c. Spreadsheets
d. Dashboards
b. Online analytical processing
PindCart can use online analytical processing (OLAP) to predict the demand and maximize its sales. In the retail industry, online analytical processing (OLAP) is used to help firms predict customer demand and maximize sales. For example, Starbucks employs some 149,000 workers in 10,000 retail stores in the United States. The firm built a data warehouse to hold 70 terabytes of point-of-sale and customer loyalty data. This data is compressed into data cubes of summarized data to enable users to perform OLAP analysis of store-level sales and operational data.
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