sharingwisdom
09-26-2010, 01:08 AM
Full article can be found from DailyFinance: https://srph.it/a0RTEA (https://srph.it/a0RTEA)
Walmart (WMT) uses data-mining services to collect and store information for all its customers in a central location. This allows it to determine the purchasing behavior of people who shop in its stores or on its website. It also optimizes inventory distribution by determining which products people are most likely to buy in the future. In August, Walmart began installing Radio Frequency Identification Devices (RFID) in their underwear and jeans, which lets them track items and customers around the store. This means they are able to determine how much time someone who buys a specific pair of pants spends in each aisle. Walmart plans to use this data to reorganize displays and further control inventory. The retail giant also sell this information to thousands of other businesses, who use consumer profiles for advertising and demographic research.
Walmart (WMT) uses data-mining services to collect and store information for all its customers in a central location. This allows it to determine the purchasing behavior of people who shop in its stores or on its website. It also optimizes inventory distribution by determining which products people are most likely to buy in the future. In August, Walmart began installing Radio Frequency Identification Devices (RFID) in their underwear and jeans, which lets them track items and customers around the store. This means they are able to determine how much time someone who buys a specific pair of pants spends in each aisle. Walmart plans to use this data to reorganize displays and further control inventory. The retail giant also sell this information to thousands of other businesses, who use consumer profiles for advertising and demographic research.