On May 28, Bloomberg reported that Amazon may stop taking wholesale orders from smaller vendors, a move intended to drive efficiencies and ensure that the tech giant maintains healthy supplies of its most in-demand products. Amazon quickly refuted the article, telling Fast Company: “We review our selling partner relationships on an individual basis as part of our normal course of business and any speculation of a large scale reduction of vendors is incorrect.”
A data scientist can help bridge the knowledge gap that exists at most middle market consumer companies to improve profitability.
Regardless of whether or not the Bloomberg account, which quoted anonymous sources, holds true, the exchange highlights what has become a critical question in the middle market consumer ecosystem: What is your digital strategy and does Amazon fit into it? If that strategy includes working with Amazon, having a data scientist on your staff might be worth consideration. A quick search on the job site Indeed.com returned nearly 35,000 job openings for data scientist with an average annual salary of roughly $120,000.
As a leader in the data movement, Amazon isn’t just using artificial intelligence for facial recognition. Decisions about product pricing and quantities are likely made by algorithms as often, if not more than, by human beings. Our clients at RSM have demonstrated the ability to work successfully with Amazon, regardless of size, when they understand how transactional data is being used by Amazon, as well as how they can use that information themselves to make critical buying and pricing decisions A data scientist can help bridge the knowledge gap that exists at most middle market consumer companies to improve profitability.
