PRI is at the forefront of developing analytic solutions for retailers. This includes need and data assessments, the creation of deployment strategies, devising models and building platforms, and creating actionable user interfaces, among other things.
While a number of technology companies offer analytics platforms, their lack of retail industry experience makes it difficult for many retail clients to implement successfully. That is, generating analytics alone is not what is required. Rather, what is essential is working with an experienced partner that can design custom models, interpret data, and create actionable insights
PRI works with major retailers to educate them about the value of store-based analytics, build repeatable metrics models, and provide actionable insights. PRI will also provide staff to work with retailers on implementing these insights. Data sets generally include in-store, location-based information, and may involve integration with other databases, such as POS and CRM, for additional store performance measures.
PRI is a founder of the Retail Analytics Council (RAC), the leading organization focused on the study of consumer shopping behavior across retail platforms and the impact of technology. The RAC AI Lab engages in academic cooperation and research, as well as graduate student involvement in research projects, with the goal of raising awareness of careers in retail AI and analytics.
Established in August 2014, the Council is an initiative between the Medill School, Integrated Marketing Communications department, Northwestern University and the Platt Retail Institute.
For more information, please visit the RAC website.