Which mathematical innovation is credited with revolutionizing retail inventory management and is now considered essential for optimizing stock levels?

The retail industry has been revolutionized by mathematical algorithms and computational techniques. From inventory optimization to customer behavior prediction, mathematics has been at the core of retail innovations. This trivia tests your knowledge about a significant mathematical breakthrough that changed how retailers operate and make decisions. Can you identify the mathematical innovation that truly transformed retail analytics?

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Monte Carlo simulation for demand forecasting
Bayesian probability networks for customer behavior analysis
Economic Order Quantity (EOQ) model
Markov chain modeling for store traffic patterns