Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A6959941670230536192
The Wall Street Journal: #Extreme #Growth at #Lowest #Prices: $33.75 Billion Annual Sales: #BusinessModel #Outliers #DayOne #CustomerObsession: #BrickAndMortar Store Experiences #Strong #Growth in #Digital #Era: The #Economics of #DollarGeneral: Dollar General adds about two-and-half stores every day in the USA and there are four times as many Dollar General stores as Walmart [which was once long ago the self-proclaimed #LowPriceLeader]. There are more Dollar General stores than McDonald’s in the USA. After more than 30 consecutive years of sales growth, Dollar General has become one of the most profitable and fastest growing retailers in the US. Last year, the company brought in more than 33 Billion dollars in sales. So, how has a store that sells products at rock-bottom prices manage such extreme growth.
At recent #AWS #Partner tele-conferences, on #AWS #Redshift and #AWS #Quicksight, last week discussing latest #Data #Analytics, #Data #Warehousing and #AI #Technologies, I shared that #Outliers are #Informative: as ‘ #Information is #Uncertainty’; #Mean, #Median, #Mode are not as much while sharing about our specific focused interest in #AnomalyDetection and #FutureCasting [as contrasted with #BackTesting]. One may even add #Kurtosis and #Skew – known to #statisticians and #modelers – as the #third and #fourth #moment around the Mean… which are the typical bread-and-butter for most of #Banking #Finance and #WallStreet #Models.
Going to the beginning of the World Wide Web in early 1990s, #Outliers are of constant interest as we ourselves are one ranked as Computerworld’s #TopDigitalSite born in what is called United States’ #RustBelt. They said in those days that such #HiTech #Innovations happened either in #SiliconValley or at programs such as #MIT. Well, from the get go, we had soon #SiliconValley #VentureCapitalists come to us to seek guidance on How to #Build #Global #Digital #Enterprises on #WildWildWeb as I called it then.
We also had programs including #Harvard and #MIT coming to us for help as well as global hi-tech companies such as Ogilvy Digital, IBM, Google and Intel Corporation coming to us without any ‘solicitation.’ From #DayOne, we have always believed in #Marketing focused on global and national #customers [of which we are representative] #pains and ‘painkillers’ [ #NEED’s] and not ‘vitamins’ as the driver. In fact, at another #AWS #Partner recent workshop, I shared our #DayOne philosophy of #action and #execution long before it was given that name by Amazon. I also shared about my preference for #CustomerObsession which has always been our prime driver, again before it was given that name by Amazon Web Services (AWS).
The Wall Street Journal: #Dollar #Store #Dinners and Vats of Shampoo Help #Families Cope With #Inflation: With #energy and #grocery #prices rising, many are cutting their #spending on #essentials.
Future of AI-Computer Science-Data Science-Finance Are All Here: Global Risk Management Network, LLC
