Jenna McHugh, this week's Big Data & Analytics Hero, leads and champions all Macy’s Employee Benefits strategies, oversees all financial and compliance for Macy’s Health and Welfare plans including budgeting, forecasting and reporting, and is responsible for developing dashboards and reports that allow Macy’s to make business intelligent decisions, improve operational efficiencies and increase shareholder value. In this week's installment, Jenna tells of a world where "merchandise will be much more accessible because of our ability to better forecast selling patterns."
How have big data and analytics impacted how you do your job today?
While big data and analytics sound complicated, it actually makes business easier and simpler. Large volumes of data can be consolidated into one graph that tells a story and predicts the future. I have increased confidence in the integrity of our data and that as an organization we are communicating consistently.
How are big data and analytics changing your business strategy?
We spot trends and act much swifter with our dashboards and advanced analytics. Very quickly we can determine if we need to hire more people, reallocate talent to another part of the business or focus more closely on turnover in a particular store because of trends.
How can big data combined with analytics improve the world we live in 5 to 10 years?
The possibilities are endless! I see much more customization for the retail world. Even today, we can customize products offered to customers in stores and online, all because of data on shopping patterns and choices. I see more of this "all about me" in the future. Merchandise will also become much more accessible because of our ability to better forecast selling patterns. I am also passionate about healthcare. I foresee many improvements in our healthcare system with better predictions and ultimately, patient outcomes.
View all of our Big Data & Analytics Heroes here on the Hub, and look out for next week's Hero: Doug Stephens, founder and president of Retail Prophet.