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Many Technologically Advanced Retailers Are Using a Technique to Analyze

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Many technologically advanced retailers are using a technique to analyze the huge amounts of data collected through their point-of-purchase scanning equipment.The analysis looks for products that are commonly purchased together to help retailers merchandise their stores to place products in the right places.What is this technique?


Definitions:

Innovation

The process of translating an idea or invention into a good or service that creates value or for which customers will pay.

Risk Assumption

The act of taking on the potential for loss or harm as part of a project, investment, or business, often in pursuit of a reward.

Entrepreneur

An individual who creates, launches, and manages a new business, typically taking on significant financial risk.

Controlling

In management, it involves monitoring performance, comparing it with goals, and taking corrective action as needed.

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