2018 INFORMS Business Analytics Conference
Baltimore, MD
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Analytics 2018 (The INFORMS Conference on Business Analytics and Operations Research) is the one analytics conference that consistently delivers proven applications and processes that will improve your business’s bottom line.
Analytics 2018 will bring together nearly 1,000 leading analytics professionals and industry experts (executives, analysts, managers, researchers, data scientists, modelers, etc.) to share ideas, network and learn about a range of current topics.
INFORMS
5521 Research Park Drive, Suite 200
Catonsville, MD 21228
Telephone: 800-446-3676 or 443-757-3500
Fax: 443-757-3515
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January 22, 2018

Macy’s: A Model Driven Approach to Store Selling Space Optimization

INFORMS

Store Locations sales performance by merchandise business was until now being compared against benchmarks formulated by averages of similar scale. A new approach has been developed integrating Exploratory Analytics (Co-clustering) and Prescriptive Analytics (Non‐Linear Spline Regression Optimization Model and Seasonal (Random Walk) Autoregressive Integrated Moving Average (SARIMA) Model). We have developed a new workflow to integrate all three models in recommending optimal store layouts and merchandize mix for new store locations and major remodels of existing ones. In this three-tiered process, the analyst first identifies the statistical cluster membership of the under analysis location and formulates a plan based on that benchmark. Then he/she invokes the optimization model that provides the space adjustment recommendations that maximize its sales potential based on existing cross‐sectional data (for remodel stores). In the final step, the forecasting model is used to validate whether the recommendations made based on cross‐sectional (historical) data hold true in the time‐frame where these changes (projected store opening or remodel completion) are expected to take place.

Macy’s is competing as a 2018 Innovative Applications in Analytics Award Finalist, to see other finalists, click here.

To hear this and other real-world case studies that can impact your business’ bottom line, register now.

Northwestern University: SAFE (Situational Awareness for Events): A Data Visualization System Unlocking the Beachfront: Using Operations Research to Repurpose Wireless Spectrum

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