This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Databricks Launches Analytics Platform for Retailers
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > Tech > Databricks Launches Analytics Platform for Retailers
Tech

Databricks Launches Analytics Platform for Retailers

Editorial Board Published January 13, 2022
Share
Databricks Launches Analytics Platform for Retailers
SHARE

Data analytics company Databricks Inc. said Thursday it launched a platform that helps retailers draw faster insights from their data.

Contents
Databricks Chief Executive Ali GhodsiNewsletter Sign-upWSJ | CIO JournalPharmacy manager Jayme Strnatka works behind the pharmacy counter at a Walgreens store in Chicago.Related Coverage

The platform, called Lakehouse for Retail, has industry-specific tools that help users tackle challenges with inventory management, demand forecasting and recommendation modeling. the company said.

“The vision of lakehouse helps solve many of the challenges retail organizations have told us they’re facing,” said Ali Ghodsi, chief executive and co-founder of Databricks.

The San Francisco-based company sells services based on open-source Apache Spark, a real-time data-analytics technology that Mr. Ghodsi helped create. Apache Spark emerged from the University of California, Berkeley, in 2009.

Databricks Chief Executive Ali Ghodsi

Photo: Databricks Inc.

Lakehouse for Retail consolidates a variety of information in a single digital repository. In the past, such repositories, often called data lakes, required users to make a copy of the data so that it could be structured and analyzed in a separate environment, the company said. The newer concept of the “lakehouse” allows users to analyze data in the repository itself, according to Databricks.

The goal of Lakehouse for Retail is to “help organizations operate in real time, deliver more accurate analysis and leverage all of their customer data to uncover valuable insights,” Mr. Ghodsi said. The platform also is designed to facilitate data-driven collaboration and sharing among businesses and partners in the retail industry, he said.

Retail data is proliferating quickly and the ability to capture and analyze that data has emerged as a major source of competitive advantage.

“If you look at where [retailers are] putting their money, it’s into new ways of collecting and processing information,” said David Swartz, equity analyst in the consumer sector research group at research firm Morningstar Inc.


Newsletter Sign-up

WSJ | CIO Journal

The Morning Download delivers daily insights and news on business technology from the CIO Journal team.


Privately held Databricks says it has raised $3.5 billion to date. The company had $425 million revenue in fiscal-year 2021, ending Jan. 31, 2021, and in August said its annual recurring revenue was $600 million. Databricks said its current valuation is $38 billion.

Investors include Morgan Stanley Counterpoint Global, Andreessen Horowitz, funds and accounts managed by BlackRock Inc., Canada Pension Plan Investment Board (CPP Investments), Tiger Global Management and Coatue Management, according to the company.

Lakehouse for Retail builds on services that Databricks already offers customers including the U.S. operations of pharmacy giant Walgreens Boots Alliance Inc. Until now, retail customers have had to create software and tools to draw more industry-specific insight from Databricks. Lakehouse for Retail has retail-specific tools built into the platform itself, potentially expanding adoption in the sector, according to Mr. Ghodsi. Retailers are looking to make greater use of data in managing their inventory and supply chains, forecasting demand and personalizing marketing campaigns for customers, he said.

Pharmacy manager Jayme Strnatka works behind the pharmacy counter at a Walgreens store in Chicago.

Photo: eileen meslar/Reuters

Walgreens, based in Deerfield, Ill., has been using Databricks for four years and gained access to Lakehouse for Retail six months ago, said Luigi Guadagno, vice president, pharmacy and healthcare platform technology at Walgreens.

Mr. Ghodsi said the specialized offering will be most useful to new Databricks customers, who will now be able to skip some of the steps of writing their own code to do things like inventory forecasting.

Still, prewritten code can’t act as a full-blown solution for any given retail enterprise, said Dan Vesset, group vice president, analytics and information management at market researcher International Data Corp. “It’s very hard to go 100% prebuilt, because of the unique requirements of subsegments within an industry and also the very unique requirements of an individual company,” Mr. Vesset said.

Related Coverage

The idea of the lakehouse combines elements of data lakes—which store structured, semistructured and unstructured data—and the earlier idea of data warehouses, in which users conduct data analytics, according to Mr. Vesset. The lakehouse concept is still relatively new, and most enterprises continue to use traditional data warehouses, he said.

Databricks is also looking to launch more industry-specific lakehouse offerings targeting the healthcare, media and financial sectors, according to Mr. Ghodsi.

Mr. Guadagno of Walgreens said Databricks’ platform is attractive because it is scalable, it collects data in real time, and it can be used by different parties that rely on different tools, including people who write software, people who mine data and those who create reports. The benefit is that Walgreens doesn’t have to spend money moving data and translating it for various groups and all the data stays in the same place.

“We understand more, and we know more,” when it comes to dealing with patients, Mr. Guadagno said, and “Databricks is the engine behind it for us.”

Write to Isabelle Bousquette at [email protected]

Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

TAGGED:Tech NewsWall Street Publication
Share This Article
Twitter Email Copy Link Print
Previous Article TSMC to Boost Chip Production With Up to  Billion Investment TSMC to Boost Chip Production With Up to $44 Billion Investment
Next Article Lionel Richie to receive Gershwin Prize for pop music Lionel Richie to receive Gershwin Prize for pop music

Editor's Pick

Pleasure parade cancelled after being halted by pro-Palestinian protesters

Pleasure parade cancelled after being halted by pro-Palestinian protesters

Ottawa’s annual Pleasure parade was cancelled on Sunday after it was halted by a native pro-Palestinian advocacy group that blocked the…

By Editorial Board 5 Min Read
Learn This Earlier than Shopping for a Window Air Conditioner
Learn This Earlier than Shopping for a Window Air Conditioner

As is the case for many individuals, my dwelling can't be retrofitted…

11 Min Read
Save 20 % on Our Favourite Earbuds for Android
Save 20 % on Our Favourite Earbuds for Android

Trying to improve your wi-fi earbuds with out reaching deep into your…

3 Min Read

Oponion

San Jose man killed, two others injured in Santa Clara crash

San Jose man killed, two others injured in Santa Clara crash

SANTA CLARA – A 66-year-old San Jose man was killed…

December 14, 2024

Turks Abandon the Lira for Dollars as Currency Crisis Deepens

ISTANBUL—A currency crisis here is battering…

November 25, 2021

The best way to Costume Like David Gandy: Model Information for the Fashionable Gentleman | Fashion

We independently consider all really helpful…

January 24, 2025

Selena Gomez & Benny Blanco Share TMI With NSFW Slip-Up

Studying Time: 3 minutes Selena Gomez…

April 18, 2025

Supreme Court docket bows to Trump, and the Bible says he can do what he needs

Now that some circumstances in opposition…

April 12, 2025

You Might Also Like

What to Search for When Shopping for a Sleep Masks: Do They Actually Assist? What Kind Is Greatest?
Tech

What to Search for When Shopping for a Sleep Masks: Do They Actually Assist? What Kind Is Greatest?

When it’s time to wind down, even a skinny beam of streetlight coming by the curtains or the glow of…

8 Min Read
How A lot Melatonin Ought to You Be Taking? And Ought to You Be Taking It at All?
Tech

How A lot Melatonin Ought to You Be Taking? And Ought to You Be Taking It at All?

Once you've labored within the sleep business lengthy sufficient, you are going to hear one query resurface time and time…

5 Min Read
Snag Our Favourite GoPro for 0 Off
Tech

Snag Our Favourite GoPro for $150 Off

Whether or not you are mountain biking, snowboarding, or leaping out of planes, GoPro has been a family identify for…

3 Min Read
Give Your Again a Break With Our Favourite Workplace Chairs
Tech

Give Your Again a Break With Our Favourite Workplace Chairs

Learn how to Sit Correctly at a DeskAccordionItemContainerButtonIt is not nearly discovering a chair you want. We have rounded up…

50 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?