Wesfarmers ramping up analytics: report
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Wesfarmers Ltd will increase its use of data analytics in both its retail and industrial businesses in a bid to better target customers in a mutually beneficial way to the company and its suppliers, The Australian reports.
According to the newspaper, Wesfarmers' chief financial officer Terry Bowen said the group was looking to build on the success of its FlyBuys program in offering insights into customers, by expanding the use data analytics into the supply chains of customer-focused divisions.
"When we are dealing with suppliers, using data, and them understanding where their sales are occurring in their business and them understanding that better to their benefit, is a growth area," Mr Bowen told The Australian.
Mr Bowen's comments come after rival Woolworths Ltd bought an estimated $20 million, 50% stake in data analytics company Quantium.
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