In 2008, a group of retail executives and big data experts sat together, sharing their woes of operational disconnects, profit losses, data paralysis and team inaction. “If only there was a way to connect all of this data we’re drowning in,” they said. “If only I knew the questions to ask to be successful, much less the answers to those questions,” they sighed. “If only my teams could stop reporting and start taking action.” Then one of the CEOs started drawing on a whiteboard the collective struggle and possible solution. From that room, the initial spark of DynamicAction was ignited. A system that offered one source of truth which instantly connects data from every part of the organization – merchandising, marketing, operations, customers, returns and finance. And in all channels – eCommerce, physical stores and mobile. Thousands of proprietary retail algorithms built by that former retail CEO and the former Chief Scientist of Amazon are applied to determine what’s impacting merchandising KPIs and to prescribe the actions to take for improvement. Recommended actions are ranked by how much each action is worth to the retail business, and workflow is managed within the product. So, retail merchandisers not only know the questions to ask and the answers to those questions, but can leverage the entire organization to get to action faster.
Finally, in 2012, the world of data systems and storage, databases and technology reached a reasonable point where we could actually build a system capable of answering the most pressing questions that retailers struggle to solve. Now DynamicAction is helping retail merchandising teams make smarter decisions, and take profitable action on more than $19 billion of consumer transactions each year. The attendees at that original think-tank went on to become the president of DynamicAction, the Chief Scientist of the company, as well as core retail customers of DynamicAction. Research firm Frost & Sullivan has touted DynamicAction a “first of its kind technology” and “critical for retail success.” Most importantly, retailers call it “a business revolution” and “like walking into a dark room with a very bright torch.”