From the course: No-Code Data Analysis and Visualization with ChatGPT
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Speaking the retail dialect: Sales per square foot (SPF)
From the course: No-Code Data Analysis and Visualization with ChatGPT
Speaking the retail dialect: Sales per square foot (SPF)
- [Instructor] Each industry sector has its own unique features. To understand retail data, it's important to speak the retail dialect, which is on the seventh floor of our Leaning Tower. For years, the sales per square foot has been a critical measure of success in brick and mortar stores. So what does this metric actually measure? It's all about efficiency of using physical space to generate sales. The formula to calculate the sales per square foot is pretty straightforward. You take the annual in-store sales and divide it by the total square footage. The higher the value, the more sales were generated per unit of space. Recall our previous session where we classify stores into good and bad based on their sales performance. Today we are going to cross verify those classifications using the SPF metric. Here is our prompt to ChatGPT. Aggregate the dataset by store, summing the weekly sales and dividing by two as annual sales. Take the last value of the store area. Show aggregation…
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