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Babatunji Stores, popularly known as “The Excellent Store”, is a leading indigenous chain of stores with headquarters in Gbagi, Oyo, Nigeria. At the core of their business is a strong sense of excellence and entrepreneurial value. And this is evident in all their 1,500 products, available to all segments of the population at customer-friendly prices, across 10 stores in different cities of Nigeria.
The CEO of the company, Chief A. A. Babatunji, plans to expand the chain of stores to more Nigerian cities in 2021. However, as the COVID19 restrictions have affected the retail business, he sees the need to better understand which products return higher profits at specific stores so as to inform the expansion plan.
You have been engaged as the new Retail Data Analyst to build a predictive model and find out the profit returns on each product at a particular store. The scenario he sees is where a brand of juice sold for N250 in one of his store branches may also be sold at N230 at another store within Chief Babatunji's chain of stores. He needs to therefore understand what type of product, market clusters and store type (location, age, size) will give more profit returns as he plans to expand to more cities in the country.
From your predictions, Chief Babatunji will understand the key characteristics of items and stores, which drive returns and have better insight on how to proceed with the plan of expansion.