1:40 - 2:30: Macy’s: A Data Driven Approach to Store Space Optimization in a Network-Oriented Retailer
Abstract: Macy’s Inc., one of the nation’s premier retailers, operates more than 700 department stores under the nameplates Macy’s and Bloomingdale’s, and approximately 125 specialty stores that include Bloomingdale’s The Outlet, Bluemercury and Macy’s Backstage. While the company’s physical footprint makes it an ideal candidate for statistical analysis, stores segmentation and space optimization have not been assessed statistically in the past. Instead, strategic planning guidance on performance expectations has relied mostly on comparisons against overall (rather than family of business specific) stores performance benchmarks as well as the institutional knowledge of the practitioners derived from past case studies experience. Hear how the Macy’s Strategic Planning and Analytics Department in partnership with the University of Cincinnati’s Research Institute is changing all that by creating models to ensure store space is allocated in the most productive and efficient way.
Peri Georgiades, Director Strategic Planning & Analytics, Macy's
As a Director of Strategic Planning and Analytics, Peri and his team help the Macy’s Stores Organization evaluate and optimize space allocation by family of business across the stores portfolio. Peri holds an MBA Degree in Finance from Xavier University’s Williams College of Business, a Master’s Degree in Planning from University of Cincinnati’s DAAP College and a Bachelor’s Degree in Economics, Political Science and Public Administration from University of Athens, Greece.
Yichen Qin, Assistant Professor, University of Cincinnati
Yichen is an assistant professor in the Department of Operations, Business Analytics, and Information Systems in the Lindner College of Business at the University of Cincinnati. He earned his Ph.D. degree in Applied Mathematics and Statistics from the Johns Hopkins University in 2013. His research interests include robust statistics, computational statistics, and business analytics.
Xiaojun (Mark) Wang, Graduate Student (Master’s in Business Analytics), University of Cincinnati
Mark is currently an MSBA graduate student at UC. He is at a crossroads of a career path transition from a mathematician to a data scientist. With strong background in both theoretical and applied mathematics, he is eagerly looking for challenging and fun problems to solve. Mark also holds a Ph.D. Degree in Mathematics from Virginia Tech University.
Hui Wang, Graduate Student (Master’s in Business Analytics), University of Cincinnati
Hui is currently an MSBA graduate student at UC. She holds a Ph.D. Degree in Neuroscience from the University of Maryland and a B.S. Degree in Biotechnology from Tongji University in Shanghai, China. Hui is a recipient of the Graduate Incentive Award from University of Cincinnati in 2016, and the Outstanding Student in MSBA Award from the University of Cincinnati’s Lindner College of Business in 2017.