BJ's Wholesale Club has partnered with technology company First Insight to implement a new predictive analytics machine that assists with buying decisions. The consumer-driven tool will help the retailer's membership warehouse clubs across the U.S. make buying decisions regarding products offered in its warehouses.
“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.”
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The software from First Insight uses online social engagement tools to gather real-time preferences, pricing and sentiment data on potential product offerings. Then, the information is filtered through the predictive analytic models to determine which products will most likely get chosen. The resulting solution will help BJ's better stock stores according to consumer preferences.
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