5 Ways Walmart Uses Big Data to Help Customers


5 Ways Walmart Uses Big Data to Help Customers

June 7, 2020
Name: 阮氏蘭香
Student ID : D0458704
Reference: https://corporate.walmart.com/newsroom/innovation/20170807/5-ways-walmart-uses-big-data-to-help-customers

With more than 245 million customers visiting 10,900 stores and with 10 active websites across the globe, Walmart is definitely a name to reckon with in the retail sector. Walmart sees close to 300,000 social mentions every week.

That makes Walmart has to use " Big Data" to manage and operate its business. Walmart relies on big data to get a real-time view of the workflow in the pharmacy, distribution centers and throughout its stores and e-commerce.

5 Ways Walmart Uses Big Data to Help Customers

1. To make Walmart pharmacies more efficient.

By analyzing simulations, the discount giant can understand how many prescriptions are filled in a day, and determine the busiest times during each day or month. Big data also helps Walmart schedule associates more efficiently, and reduce the time and labor needed to fill perceptions.

2. To improve store checkout.

While it is still only testing the process, Walmart is using predictive analytics to anticipate store demand and determine how many associates are needed to man registers. The data also reveals the best form of checkout at each store: traditional stations or self-checkout.

3. To manage the supply chain

The company uses simulations to track the number of steps from the dock to the store. The result: more optimized routes to the shipping dock. The strategy also pinpoints the number of times a product gets touched along the way to the customer. Big data also reveals transportation lanes and routes for the company’s fleet of trucks. This insight helps Walmart keep transportation costs down and more accurately schedule driver times, according to the blog.

4. To optimize product assortment.

By analyzing customer preferences and shopping patterns, Walmart can optimize how to stock shelves and display merchandise. Big data also provides insight into new items, discontinued products and which brands to carry, the blog said.

5. To personalize the shopping experience.

By analyzing shopper’s preferences, Walmart can develop a more consistent, tailored shopping experience. If a customer is shopping for baby products for example, Walmart can use data analytics to anticipate their needs then create personalized mobile rollback deals for these shoppers.

Comments

  1. WennyJune 7, 2020 at 11:54 PM

    This article is really an insightful one. As i learn and know more about how Walmart is using big data to help its customers. In many industries, big data provides a way for companies to gain a better understanding of their customers and make better business decisions. And it is really benefiting Walmart. Whether it’s analyzing the transportation route for a supply chain or using data to optimize pricing, big data analytics will continue to be a key way for Walmart to enhance the customer experience.

    ReplyDelete
  2. Praew (倪婉欣）June 8, 2020 at 12:19 AM

    From my opinion, this blog is very interesting because generally most of the blogs talk about how big data offers companies to create better business decisions. However, this blog talks about how big data makes the companies' operations more efficient and improve customers' experiences.

    There are five essential ways that Walmart leverages big data as follows;
    Firstly, Walmart utilizes big data to help staff in the pharmacies. Apart from assisting pharmacies, Walmart adopts big data to improve store check out experience by using predictive analytics. In addition, Walmart uses big data for managing supply chain and big data helps Walmart reducing transportation cost. Additionally, Walmart optimizes product assortment by using big data to analyze customers' preference. Lastly, Walmart personalizes customers' shopping experiences to satisfy customer's need.

    The key success of Walmart is customers. As a results, Walmart focuses on incorporating big data analytics into their operations to help customers.

    ReplyDelete
  3. Sally D0740993June 14, 2020 at 10:39 PM

    Sally 何昕朣 D0740993

    The successful driving formula starts with creating a convenient shopping experience, including good location, convenient business hours and enough manpower, it is very important to keep the goods in the store forever, you must have enough courage to purchase foot products, only during the promotion period Not out of stock. Logistics cost control is an important indicator to measure the management level of retail enterprises, and it is also an important factor that affects the operating results of retail enterprises.

    What matters most to Walmart is its size. The scale of consumer groups, the scale of products, and the scale of technology. Walmart has a huge ecosystem of big data. Because of the emergence and application of big data, Walmart's costs have been greatly reduced, including manpower, inventory, and various resources. Walmart’s big data ecosystem processes terabytes of new data and petabytes of historical data every day. Its analysis covers millions of product data and hundreds of millions of customers from different sources. Walmart’s analysis system analyzes close to 100 million keywords every day to optimize the corresponding search results for each keyword. Walmart uses data mining to discover patterns in sales data. Data mining can help Walmart find a pattern based on information about which products need to be purchased together or need to buy a certain product before buying a special product, and provide users with product recommendations. At Walmart, effective data mining increases customer conversion rates.

    In general, the emergence of big data has brought great benefits to both Walmart and consumers.


    ReplyDelete

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