Check out our roundup of important writing from across the web on technology and analytics in retail, consumer goods and manufacturing.
ML: A Service in Addition to a Skill
Oliver Tan argues machine learning is not a one-size-fits-all approach, so as businesses implement machine learning strategies, it’s important that they have a solid infrastructure in place.
Forbes: Oliver Tan – Why Machine Learning Is A Service In Addition To A Skill
“I've noticed how many businesses believe that training models depend exclusively on algorithms and coding skills when, in reality, this training process is comprised of a complete system that includes many sub-components that can affect the development of the final model individually. Because of this, these businesses are failing to employ data tools that provide data scientists with the seamless, connected database they need to effectively manage and analyze data.”
Socially Conscious Shoppers
Kaley Roshitsh writes that brand values are increasingly a motivator for shoppers.
WWD: Kaley Roshitsh – Brands Need Values to Woo Holiday Shoppers
“The breakdown of the value ranking is 30 percent of shoppers are leaning into environmental sustainability, 25 percent value education the most and 23 percent prioritize diversity and inclusion. With great — social and ethical — responsibility comes a great price. And according to the survey, price of products is still the top purchasing motive, with brand values taking the second spot and “previous positive or negative experience” as the third motivator.”
Supply Chain Takes Center Stage
Andy Stinnes says the supply chain used to be the nerdy kid of the corporate world, but recently that’s changed.
Venture Beat: Andy Stinnes – Why the supply chain is finally getting its due
“In this service economy, the product is almost secondary. What matters to consumers is ease of consumption. They want a frictionless, hassle-free experience, and it can only be provided by a rock-solid supply chain.”
Focusing on Multichannel
Daniel Keyes makes a strong case for retailers focusing on multichannel, not just because it's popular, but also because it can lead to higher spending.
Business Insider: Daniel Keyes – Multichannel shoppers are driving the holiday season
“Offering BOPIS options can help with these factors because consumers won't have to wade through crowds and lines to pick up orders — they'll only have to find the product online, and then it'll be picked out in the store before they arrive. Additionally, BOPIS cuts out waiting for delivery entirely. With most shoppers already shopping both online and in-store, blending the two is an easy next step, and one that consumers should be interested in because of how it overcomes their issues with holiday shopping.”
Next Generation Interconnectedness
Dennis Mehaffey claims we're just scratching the surface of what IoT means to the supply chain.
Supply Chain Management Review: Dennis Mehaffey – NextGen Technology: The Internet of Things
“Our devices have been interconnected over the past decade by the Internet. And, it’s not just our phones or computers: Home alarms, vehicles and even refrigerators are WiFi- and Bluetooth-enabled and doing things we never thought possible. The scariest part may be that we’re only scratching the surface of what this means to our businesses and our lives.”