Nike boosts digitalization buys big data

May27,2020
陳玠甫 D0778594
Source:https://www.themds.com/companies/nike-boosts-digitalization-buys-big-data.html

In the case of the" Nike boosts digitalization buys big data " well we all know that Nike is not only a very experienced company, but also the leader in sports retail.But why they still need to buy a company that is good at using the big data, is that really important?The answer is yes.

Celect's strength lies in analyzing the trends behind a large amount of structured and unstructured data through artificial intelligence technology, which can help users tap potential market opportunities, and at the same time can judge the non-essential cost expenditures that the company's operations have not paid attention to. There are benefits to analyze future market trends, etc.

And I think that is exactly the thing what Nike need.Since Nike has developed quite a large market scale, and the sales performance of its tens of thousands of product items is more difficult to analyze the actual sales performance through traditional statistical surveys, it is necessary to update the technology to help the company accurately determine the market trend, and the acquisition of Celect is expected Will enable Nike to have further data analysis capabilities. Just like the Nike COO Eric Sprunk said “As demand for our product grows, we must be insight-driven, data-optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale”, he also added.

 The major I'm studying right now is something about business, and I found that, big data is not just a tool, but a potential business opportunity will let you earn profit, so I think there is no reason for us to not study it.

Comments

  1. jevonjericoMay 31, 2020 at 11:41 PM

    i agree with you. Big data is a very useful and important tool for us business school students. in this day and age, where every industry is becoming more and more competitive, every edge we have on our competitors we need to maximise it to the fullest. technology are improving each and everyday and we approach business strategy and sales strategy differently compared to a decade ago. more and more large companies are realising how important big data is and they started to branch out to be able to use those data to maximise their profit and from this example its Nike. I have been quite a loyal customer to Nike and from what i have observed, Nike has always been able to be ahead of its competitors such as Adidas, Puma, Underarmour, etc. They have always been the trendsetter and benchmark to other brands. i think acquiring Celect is a very smart move from Nike. Acquiring Celect will be more profitable and reliable than outsourcing their data mining. With Celect, they are able to analyse trends behind a large amount of structured and unstructured data which can help them to understand the market and put out products that are more on demand, reduce non essential cost expenditures that the company's operations have not paid attention to, predicting what are going to be the next trend, etc. i have always viewed Nike as a company that is always trying to improve. it is amazing to see that they are using big data for both Increasing their profit and also quality and performance of their product.

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  2. AnonymousJune 2, 2020 at 5:23 AM

    This comment has been removed by the author.

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  3. AnonymousJune 2, 2020 at 5:27 AM

    I do not know that Nike uses big data before. To me, if talking about Nike, we know that Nike is the top 3 shoes and sport company. Nike has a variety of sporting products for everyone. This includes sports equipment and apparel for baseball, ice hockey, track and field, soccer, surfing, yoga, tennis, basketball, lacrosse, skateboarding, combat sports, cycling, wrestling, volleyball, cheerleading, auto racing, aquatic activities, cricket, and golf. 11 & 15 In addition to shoes and sport equipment, they also provide clothing (tracksuits, sport shorts, sports bras, and casual clothes such as shirts, jeans, jackets, socks, hats), watches, apps, backpacks, purses, wallets, gloves, sunglasses, hair-bands, scarves, belts, etc. 19 Not only does Nike have a variety of options of products, but Nike also owns Hurley, Converse, and Jordan brands. By offering more products to more people, in more markets than any other sports company, they are able to capture a far greater market share of the market than any other company. Nike is successful because it has some of the best, if not the best, marketing in the world. Their brand is the #1 brand in the sporting goods industry and is the 14th most valuable brand in the world. 61 The Nike business strategy is clear, invest in building your brand through emotional marketing and sports celebrity endorsements, develop products that have high-quality, market-leading technology and buy out competing sports brands.

    As a consequence, I think overall Nike is really smart by using these kind of strategies, making the company so success.

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