HOW WALMART USES DATA SCIENCE?
Walmart’s Use Case
Walmart is the world’s biggest retailer with over 20,000 stores in just 28 countries. Now, its currently building its world’s biggest private cloud which will be able to process 2.5 petabytes of data every hour now.
The reason behind Walmart’s success is how they use the customer’s data to get useful insights about customers’ shopping patterns. Here, the Data Scientist and Data Analyst at Walmart know every detail about their customers. They know that if a customer buys Pop-Tarts, they might also buy cookies. How do they know all of this?????
How do they generate information like this?
So, they use the data that they get from their customers and they take hours to analyze it to see what does the particular customer is looking for.
Lets, look at the few cases where Walmart analyzes the data and they figured out the customer’s need.
Case 1:
So, let’s consider the Halloween and cookies sales example, during Halloween sales Analyst took a look at the data. He found out that a specific cookie was popular across all Walmart stores. So, every Walmart store was selling these cookies very well, but he found out that two stores are not selling them at all. So, the situation was immediately investigated and it was found that there was a simple stocking oversight. Because of which the cookies were not put on the shelves for sale. So, because this issue was immediately identified they prevented any further loss of sales.
Case 2:
Through Association rule mining Walmart found out that strawberry Pop-Tart sales increased by seven times before a hurricane. So, a data analyst at Walmart identified the association between hurricane and strawberry Pop-Tarts through data mining. So, what Walmart did they place all the strawberry Pop-Tarts and check outs before a hurricane would occur. This way they increased their sales of Pop-Tarts.
Oh Yeah And Also Beer!
Case 3:
Walmart is analyzing the data generated by Social media to find out all the trending products so through social media you can find out the likes and dislikes of a person right?
So what Walmart did is they are quite smart the used data generated by social media to find out what products are trending pr what products are liked by customers. For example, Walmart analyzes social media data to find out hat Facebook users were crazy about cake pops. So, they immediately took a decision and they introduced cake pops into the Walmart stores.
They only reason Walmart is so, successful because of the huge amount of data that they get they don’t see it as a burden instead they process the data analyze it and they draw useful insights from it. They invest a lot of money and effort and a lot of time in data analysis. They spend a lot of time analyzing data in order to find any hidden patterns. So, as soon as they find out hidden patterns or associations between any two products they start giving out offers or they start giving discounts or something along that line. So basically, Walmart uses data in a very effective manner they analyze it very well. They process the data very well and they find out useful insights that they need in order to get more customers or in order to improve their business.
Thanks for reading this!!!
Connect with me on:
Twitter: https://twitter.com/aree_yarr_sharu
Linkedin: https://t.co/g0A8rcvcYo?amp=1
