Easter is a time to take a break. To step back and spend some time with your friends and family. Of course, if you did spend the weekend doing that, there’s a good chance you missed the biggest and best stories that happened while you weren’t paying attention. Luckily you for you, they’re all here in one handy list. You’re welcome.
When Jet.com CEO Marc Lore revealed last month that his startup had purchased Hayneedle, an online furniture retailer, the serial entrepreneur called the move “opportunistic.” At the time however, he declined to say how much his company paid for the Omaha-based company. Documents obtained by FORBES show that Jet, an Amazon.com AMZN -0.38% challenger that has raised more than $700 million in venture capital funding and debt, paid $90 million for Hayneedle, which according to sources had been looking for an acquirer for at least three years.
Adidas AG executives are decidedly happy these days, thanks to Pharrell Williams. While they were throwing euros at Kanye West and letting him run amok in the design department, the sober heads in Herzogenaurach, Germany, pulled out a 45-year old basketball shoe called the Superstar and put it in Pharrell’s hands. Adidas declared 2015 "the year of the Superstar".
With the price transparency wrought by the Internet, retailers are finding it harder to compete. But thanks to big data analytics and machine learning, the smartest stores are gaining better margins by making small changes in their operations, increasingly by way of prescriptive analytics. Since the dawn of the free market, merchants have frettedabout setting prices. The invisible hand of the market naturally works to balance prices with supply and demand, but the mechanism works slowly
Based on a study by 451 Research of 200 C-level and senior IT leaders, the report reveals that fewer than half (40 per cent) of C-level executives and data scientists are ‘very confident’ in their organisation’s data quality. Yet a majority (94 per cent) recognise the impact poor data quality has on business outcomes. Areas that can be affected by poor quality data include lost revenue and bad decision-making.
2015 was a busy year for the Indian e-commerce industry. Many companies have joined the battle for a share of the e-commerce market.There are many e-commerce companies that were launched in the last year and many more that closed shop over the same period. Some of the newly launched e-commerce shopping portals in 2015 are Aditya Birla Group’s venture abof, the Mahindra Group’s venture m2all, Confederation of All India Traders (CAIT) launched e-lala etc.
Predictive analytics can improve retailers’ pricing, inventory control, customer service, and ultimately, their bottom line. But some are reluctant to change a system where decisions are traditionally based on merchants’ opinions.