100%(9)9 out of 9 people found this document helpful
This preview shows page 1 - 4 out of 10 pages.
Running head: USING ANALYTIC TECHNIQUES TO ADD MEANING TO DATA1Using Analytic Techniques to Add Meaning to DataCapella UniversityMBA-FPX5008 Applied Business AnalyticsFaculty: John GazeMay 2020
USING ANALYTIC TECHNIQUES TO ADD MEANING TO DATA2Amazon – The Retail BehemothAmazon.com is a Fortune 500 e-commerce company based in Seattle, Washington, and has the distinction of being one of the first large companies to sell goods over the internet. Jeffrey Preston Bezos founded Amazon in 1994, which launched the following year. He started the company as an online bookstore and then quickly diversified by adding other products and services along the way. Bezos named Time magazine’s “Person of the Year” in the year 1999, just five years after, proves the company’s success in online shopping. (Schneider, 2019).Jeff Bezos started the company with the unique mission to make Amazon, Earth’s most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. As a result, a customer can find anything and everything under the sun on the Amazon.com website. And yet, Amazon’s correct core product is convenience, and how quickly it can get an order from customers’ virtual shopping carts to their real-life doorsteps. (Seim, 2018). Amazon’s network of distribution centers located across the U.S. makes it extremely easy for Amazon to offer faster shipping to its Prime members. It has also enabled Amazon to enter fresh produce delivery business.Amazon’s net sales were $280.52 billion in the year 2019, making it no. 1 in the 2019 Digital Commerce 360 Top 1000. The truth is, the retail giant does not make all that much money on the retail operations. Since Amazon focuses on competing on price and convenience and thus slimming down the profit margins, retail operations are not big moneymakers for the company. Amazon relies on its AWS (Amazon Web Services) – its cash cow, for profits since 2016. Advertising and third-party sellers’ profits are also big contributors. With the impressive
USING ANALYTIC TECHNIQUES TO ADD MEANING TO DATA3significant moves, such as one-click shopping