retail news in context, analysis with attitude

The Wall Street Journal has a story about Staples CIO Tom Conophy, in which he concedes that the retailer "roasted and lost our way and didn’t see the onslaught coming from Amazon,” and now is looking to reverse a trend that had it losing sales and market share.

The story says that Conophy has "prioritized the development of custom software and hired IT professionals with the 'killer instinct' to expand its online and mobile channels. He’s betting these investments will offer the best return. And he communicates the potential outcomes of investing in such technologies to the business."

And, the Journal writes, "Staples is analyzing how its dynamic pricing, in which varies product pricing based on geography, works for the hundreds of transactions that happen on the website each hour." Conophy says that these transactions produce an enormous amount of data, which he says is the "amino acid of the tech ecosystem."
KC's View:
I love that line about data being the "amino acid of the tech ecosystem." Like I always say here, the successful companies are the ones that actually act on actionable data.