When it comes to the utilization of data analytics, everyone is stepping up their game. With Google, Uber, Airbnb and Facebook setting the tone for organized business practices through the powerful use of data analysis, others like Chick-fil-A and Home Depot, in particular, are following suit. At last month’s National Retail Federation 2019 Big Show, Chick-fil-A lead analyst Karen Hinson spoke to an increase in overall company efficiency with a direct correlation to the use of data analysis software program Tableau, which for them, streamlines documents including financial information per restaurant and region, swiftly builds annual reports in a fraction of the time it used to take, and assists greatly with long lines, store rooms, and stocking initiatives.
“In a world where everyone has access to the same data, it balances power. But in the real world, one business often has more or superior information than another, and whenever that happens, the scales are tipped in their favor,” said Hinson, according to BizTech. “Even fast-food chains can leverage data to get ahead.”
As for The Home Depot, the company’s recent acquisition of Blinds.com created a greater need for a more robust Tableau environment for its data to result in more streamlined (and risk-preventative) shipping and handling initiatives, particularly when it comes to “remakes,” or the need to remake a product that had shipped to customers either damaged or with incorrect dimensions. “Remakes can cost upward of 6 percent of top-line revenue,” said Chase Zieman, director of analytics and data science for Global Custom Commerce,” according to BizTech. "So anything we can do to prevent that from happening is powerful for the business.”