1010data, a big data analytics firm, released a white paper discussing retail sector applications for big data. The white paper signals 1010data’s ambition to increase its retail sector footprint, providing potential benefits for buy side users.
The white paper, “Big Data in Retail Playbook: 2015 Guide for Retail Solutions,” mentions metrics such as Product Affinity Analysis and Market Basket Analysis which provide granular analysis of sales trends.
It also cites the importance of layering external data such as demographics, economics, weather and gas prices onto retail data such as point of sales, loyalty card and transactional information.
1010data was acquired in August by Advance/Newhouse for $500 million at a rich multiple. The firm was founded in 2000 by ex-Wall Street techs to manipulate large data sets of exchange data and has evolved into analyzing large-scale data in the retail, manufacturing and telcom sectors, as well as a continuing focus in the financial sector. 1010data has a robust set of pre-loaded mortgage data and is adding additional data sets for analysis by institutional investors.
The primary goal of the white paper is to persuade retailers to load their internal data onto 1010data rather than relying on internal IT groups. If successful, 1010data has the opportunity to anonymize the data and resell it to financial clients. Given 1010data’s roots in the financial community, you can be sure this is part of its game plan.