We just finished up the research and reporting for this week's InformationWeek cover story 'Blinded by Big Data,' and JC Penny is one of the companies we talk about. Under CEO Ron Johnson they made a huge pivot away from their private label brands and traditional discounting to focus on a new vision. A lot of the rhetoric was based on trends and stats they continuously referenced when they were on the road pushing the new idea.
Unfortunately, the planned failed and the returning CEO has kept only a few of the ideas (like store-within-a-store) but has essentially reversed Johnson's pricing, private label, and ecommerce plans. What makes this especially interesting for data analysis is that both have referenced the same data points as the rationale for their respective changes.
Two CEOs, two visions, and one set of data that seems to morph as needed. The InformationWeek cover story focuses on the concept of 'data governance,' which helps establish quality standards and norms that can help a business make data driven decisions correctly. Nobody knows what level of data analysis went into either JC Penney strategy, but we do know that JCP still continues to struggle while some (not all) retailers are transitioning to meet the demands of a multi-channel world.
If you are an original manufacturer or publisher that sells to B2B and B2C partners, it's even more critical to have data plans that let you analyze and act on the data based on facts. Contact us to learn more about our services around data-driven decision making.