RETAIL : COMPUTER : SOFTWARE : STATISTICS : DEMOGRAPHY: STATISTICS AND DATA : CONSUMER BEHAVIOR: A Data Explosion Remakes Retailing
David P. Dillard
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RETAIL :
COMPUTER :
SOFTWARE :
STATISTICS :
DEMOGRAPHY: STATISTICS AND DATA :
CONSUMER BEHAVIOR:
A Data Explosion Remakes Retailing
Unboxed
A Data Explosion Remakes Retailing
By STEVE LOHR
Published: January 2, 2010
New York Times
<http://www.nytimes.com/2010/01/03/business/03unboxed.html>
Retailing is emerging as a real-world incubator for testing how computer
firepower and smart software can be applied to social science in this
case, how variables like household economics and human behavior affect
shopping.
To be sure, major retailers like Wal-Mart Stores have long been sifting
through in-store sales and demographic information to aim goods at
different stores and to tightly manage supplies.
But what is changing, experts say, is the rapid surge in the amount and
types of digital data that retailers can now tap, and the improved
computing tools to try to make sense of it. The data explosion spans
internal sources including point-of-sale and shipment-tracking
information, as well as census data and syndicated services. Companies
also track online visitors to Web commerce sites, members of social
networks like Facebook and browsers using smartphones.
The better tools, they say, are ever cheaper and faster computers and
so-called business intelligence or analytic software for finding useful
information and patterns in that data.
Retailers are increasingly mining vast troves of digital information to
improve the decisions they make about pricing, shelf-stocking and product
offerings.
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The complete article may be read at the URL above.
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