Define "retail analytics."

Retail analytics refers to the interpretation and analysis of retail data to gain insights that can inform business decisions. It involves collecting, processing, and analyzing data from various sources, such as sales transactions, customer behavior, inventory levels, and market trends. This comprehensive analysis allows retailers to understand patterns, predict future sales, optimize inventory, and enhance customer experiences.

By focusing on interpretation, retail analytics enables organizations to make data-driven decisions that can improve operational efficiency, inform marketing strategies, and ultimately drive profitability. It is a critical component of modern retail strategies, helping businesses stay competitive in a rapidly evolving marketplace.

Other options focus on specific aspects that do not capture the full scope of retail analytics. Monitoring employee attendance, for example, is important for workforce management but does not provide insights into customer behavior or sales performance. Analyzing supplier relationships is valuable for supply chain management but is more specialized and not reflective of the broader insights obtainable through retail analytics. Summarizing sales data is only a subset of what retail analytics encompasses; while sales data is crucial, the broader interpretation includes customer data, operational metrics, and market analysis. Thus, the definition provided in the correct answer effectively captures the essence of retail analytics.