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Everyone wants to be “data-driven.” Most retailers already have dashboards, BI tools, and reports. Yet, many still struggle to turn that data into better decisions. Why? Because technology doesn’t drive change — people do.

The goal isn’t just to increase turns—it’s to find the optimal balance. A ratio that’s too high might signal stockouts and lost sales, while one that’s too low may indicate overstocking and higher shrink.

Today, we have a wealth of information at our fingertips to help understand both product and customer behavior. Identifying the most relevant data and uncovering the insights it provides is key.

My Retail in Detail partner and merchandising/analytics expert, Mark Yates, wrote last week about arming yourself with a merchandising plan after dissecting your analytics. So, now, you’re at a pivotal point in your retail strategy—transitioning from gathering analytics to activating them through a marketing plan that works in harmony with your merchandising efforts.

When Target launched in Canada, it was expected to be a massive retail success. Instead, it turned into a case study in how bad data can lead to disastrous results — both operationally and financially.

In my experience, the most effective leaders are those who recognize that there’s always room for improvement and greater efficiency. Ironically, the leaders who dismiss this idea are often the ones who need the most help.

Increased costs, supply chain disruptions, and customer dissatisfaction are just some of the issues with inventory mismanagement. We've created an online course to help.