RFID Technology: Application of discriminant analysis and classification statistics in The Analysis of The Impact of RFID on The Retail Business

The emerging key factors in determining the strength and effectiveness of marketing plans and support logistics are the exploitation of information technology and the use of quantitative corporate models. Many hardware vendors and systems houses have created specialized divisions to provide turnkey solutions, products and services in order to exploit these opportunities and many major retailers have developed considerable in-house expertise in this area. However a number of important gaps in retailer usage of systems were noted in this research. In a state of exponential growth the retail market includes all activities involved in selling services or goods to the final consumer. Demand and sales forecasting, inventory management, store management and transportation are the activities involved. Information technology, which plays a very important role in today's business world, is the capability to electronically input, process, store, and output, transmit and receive data and information.