Analytics

Analytics

Introduction

In today's fast pace of competition, the companies are required to adopt certain strategies and approaches that can provide them with ultimate success and growth. In order to develop effective and efficient strategies, the companies have to develop and follow the analytic plans. The analytic plan allows the company to make careful analysis of the situations in the external market environment as well as in the internal market environment so as to achieve the ultimate goals and objectives of the company in the highly competitive environment. The analytic plans are considered as the key to the success and the high level of profitability for the companies.

The Target Corporation is one of the successful companies and it is operating as the national discount retailer in the United States since many years. The Target Corporation is operating since 1902 and it has achieved its competitive position in the market because of its distinctive and competitive strategies. The company, Target Corporation uses various analytical approaches to maintain and sustain its business in the highly competitive environment. The following section aims at discussing in detail about the Target Corporation that how the company uses the analytic plans and processes in developing the successful operating procedures in the industry.

Discussion

The analytic plan has significant importance in the business processes. The in depth analysis of the Target Corporation has shown that the company has used the analytical approaches in certain areas and it lacks the proper development of the analytic plan in the area of marketing. The Target Corporation uses analytics by taking the research data from the secondary sources that are conducted by the data mining companies so as to assist the companies in making the decisions and to attain the approaches and the plans of actions that are suitable for them. Although the company, Target Corporation ...