Which retail data analytics approach has revolutionized pharmacy inventory management by reducing medication waste and improving patient adherence?

Modern pharmacies and medical retailers increasingly rely on sophisticated data analytics to optimize their operations, improve patient outcomes, and boost profitability. This trivia question explores how the medical retail sector is leveraging analytics in innovative ways. Test your knowledge about the intersection of healthcare retail and data science!

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Predictive prescription analytics that forecast medication needs based on patient diagnosis patterns, seasonal illness trends, and historical refill behaviors
Social media sentiment analysis that tracks public opinions about medications to determine stocking levels
Random forest algorithms that exclusively analyze competitor pricing to determine optimal inventory levels
Virtual reality simulations that create digital twins of pharmacies to test different product placement strategies