Walmart, Chief Data and Analytics Officer: Data is Driving Disruption in Retail's Digital Transformation
(US and Canada) Bill Groves, Chief Data and Analytics Officer, Walmart, talks with Riddhiman Das, CEO, TripleBlind, about what digital transformation looks like at Walmart, and how the company's business model is changing due to digital transformation
Groves explains that digital transformation has been taking place for many years across all competitors, not just Walmart. Walmart's digital transformation sped up through the pandemic, like many other companies. It started with Walmart harnessing data and digital channels to better serve their customers.
Over the past few years, he points out, the world has changed, and there's more online shopping for groceries, etc. So, Walmart conducted the transformation exercise to ensure that data could be used to make better decisions in those spaces, like ensuring that the right products on the shelf are the right products online and customers have access to them. Walmart made sure to use a lot of data in the transformation to keep prices low. Over the past year or two, where there's been a lot of supply chain issues across the globe, Walmart has been able to use data to keep the prices low for their customers.
Groves says Walmart shares data with partners to make sure that the right products are in the right place because the customer is the company's main priority. Walmart shares a vast amount of data, while controlling it and keeping it private.
Every company has to address the challenges that come with technology transitions. And, Grove suggests, every company strives to be the most trusted in their space. That's just a high watermark for everybody. But as you go through transitions and when you're building technology, you're building capabilities to ensure privacy. And all the privacy rules and laws are evolving. Because Walmart has adapted to technology changes, enhancing their capability to adjust, the company is flexible and moving forward.
Walmart is the leader in saving customers time and money so they can live better lives. The company offers opportunities in the market, diversity in work, and invites people to work there, utilizing cutting-edge technologies to grow their careers and make a difference every day.
Groves shares that he has been in many different verticals posing diverse challenges, like tackling AI, which makes work exciting for him daily. He highlights that Walmart leads in retail disruption, and they have been doing it for years, giving them the edge in that space.