I have data for a retail shop for all of last year (well for many years but this is what I will be using) and all of this year current. The entries are the traffic (# of visitors), the sales, the conversion (those who bought as a percentage of the total that visited), the UPT (average units per transaction), and VPT (average value per transaction in dollars). I have this data for daily, weekly and monthly intervals.
I would like to project revenue in to the future while adjusting for decreased traffic as traffic this year has been down.
How do I go about creating a model for this? What software will suffice for this task (is R enough?) and how can I account for that decreased traffic (which I speculate will be the case for the rest of the year).
I imagine this to be a big project so I just need advice on some of the steps I need to take, the direction really. Any resources are appreciated.
Thank you kindly for any help.