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One can run an analytical process in the retail industry as a project which requires expensive capital expenditure or on a retail business platform which requires a monthly operating expenditure. Which are the right analytical process to run in project mode and which are the right retail analytical processes to run in platform mode. This could depend upon a multitude of factors like1. What is the frequency of the retail analytical process ? Weekly ? Monthly ? quarterly ? or real timeFor example a real time recommendation to be made to a customer thru a contact center may well be coupled/embedded to the core application instead of routing it thru an offline business platform to derive cross sell propensity scores2. Does the analytical process lend itself to competitive differentiation ? For ex cross sell models can be a source of competitive differentiation whereas a market mix model can leverage a platform3. Is the data to be transferred under the purview of regulations ?For example customer data and risk scores may need to satisfy European data protection act which may introduce additional complexities in the retail business platforms

Business platforms are picking up a lot of interest during these troubled times because they offer customers a way of optimizing cost for running their analytical processes. So what exactly is a business platform ? A Analytics business platform necessarily consists of the following1. An analytical process which guides the step by step execution . Examples of analytical processes which have been "Platformed" are
- Market mix models
- Behavorial segmenation workflow models
- Campaign response models
- Forecasting market share or sales etc2. A set of Key performance indicators which can be used to measure the health of the business process. Example : Forecasting process efficiency could be measured by MAPE and Forecast variance.In operating a business model the client typically gives a slice of the data to be executed in the business platform. For example if one has to run a forecasting model information regarding past sales, promotion calendar for Gift offs, temporary price reductions, coupons would be required in addition to media spends . Once this data is integrated in the business platform, it can be trained and run to project future store sales with a certain level of confidence factor.There are multiple advantages with the business platform model for running analytical processes1) The customer need not invest in expensive statisticians, software and hardware2) The customer has to pay only on a 'per run' basis which can be structured as an operating expense as a part of store operations instead of an expensive capital expenditure3) There are business related best practices which are readily encapsulated into the business platform which can be leveraged.I