BJ’s seeks greater consumer insight with predictive analytics
BJ's Wholesale Club will leverage predictive analytics and machine learning to assist with buying decisions.
The warehouse club operator will begin using First Insight’s consumer-driven predictive analytics. The tools are designed to help BJ’s make design and buying decisions on the broad spectrum of products offered in its warehouse clubs.
“Providing the products our members really want at the right prices is critical to our growth strategy,” said Lee Delaney, chief growth officer at BJ’s Wholesale Club. “First Insight is helping us make sure we have the right products, including seasonal assortments, with the features and prices our members’ value.”
First Insight uses online social engagement tools to gather real-time preference, pricing and sentiment data on potential product offerings. The information is filtered through First Insight’s predictive analytic models to determine which products present the greatest opportunity. The solution will enable BJ’s to evaluate a greater number of products and reflect direct consumer input in their buying decisions.
“First Insight will help BJ’s make efficient operational decisions about product assortments that will benefit both the company and its members," said Greg Petro, CEO and founder of First Insight. "By introducing the voice of the customer through predictive analytics, BJ’s will increase their speed to market with trend-right products, targeted to their members.”
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