Rfid Technology: Application of Chi-Square Tests in The Statistical Analysis of The Impact of Rfid on The Retail Industry

The importance of data leads to the importance of information technology. The information that aids decision making is nothing but data. The greatest tools in the hands of the retailer are the right data, in the right form to the right set of people at the right time. Information is always based on a particular time frame. At a department store let us take an example of a customer. The customer proceeds towards the billing counter after selecting some goods. Here each product is scanned at the POS (Point of sale) terminal the total number of items and the bill amount is added up by the billing clerk. He also checks if the customer is a member of the store's loyalty program. The customer confirms that and gives the billing clerk the store card for entry and exits the store with his purchases after making payment by way of credit card.