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Algorithms Meet Avocadoes: Data Science Comes to Retail

The success of modern-day retailing depends as much on information as it does on the products being sold.

Algorithms Meet Avocadoes: Data Science Comes to Retail

Welcome to the age of data science. It's been called other things in the past: statistics and operations research, to name a couple of older terms. But the concept of data science entails more than a trendy name change. In the age of big data and the omnichannel, it lights the way for retailers that are struggling to compete with the mighty Amazon.com. Amazon is the “classic data-science company,” according to Ken Sanford, U.S. lead analytics architect with Dataiku, a provider of data-science software. He joins us on this episode to explain the concept, and why it’s becoming so essential to serving consumers both online and in brick-and-mortar stores. For Amazon, he says, data drives sales, and sales drives data. Others need to follow its example in achieving “a 360-degree view of the customer.” Sanford also explains data science’s role in Amazon’s acquisition of Whole Foods. Hear him talk about how companies can become “data-first organizations.” Hosted by Bob Bowman, Managing Editor of SupplyChainBrain.

Look for a new episode of the podcast, which can be downloaded or streamed, every Friday on the SupplyChainBrain website and iTunes.

Show notes:

Dataiku reports on applying predictive analytics to retail, and completing a churn predictive analysis project.

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