ABSTRACT
This conclusion presents some closing thoughts on the key concepts discussed in the preceding chapters of this book. The book describes ways to assess risk and loss before it happens and ways to explain and predict shrink. It discusses the foundation of statistics with hypothesis testing, explores the importance of data cleaning and checking for assumptions and to building and assessing statistical models to examine shrink. The book covers basic topics from variable distributions to correlations, as well as more advanced topics, such as logistics regression modeling and neural networks, and puts it all into a criminological framework to form a complete picture of the basic elements of loss prevention. It explains loss prevention personnel, retail organizations, students, and anyone interested in research and analytics and includes types of data modeling in the retail industry and criminal justice. The book provides a tool that can help many loss prevention teams move from gut feeling reactions to sound decision making.
