Wal-Mart Stores Inc. has adopted a syndicated data collaboration program, Walmart One Version of Truth, to streamline how data is used in its supplier ecosystem, which should improve efficiency and performance to the entire marketplace.
Developed in an expanded partnership with Nielsen – the sole provider of the program and the only company that can offer manufacturers the same point-of-sale (POS) data and analytics application Walmart uses internally – the new program for the Bentonville, Ark.-based retailer will provide a new, more efficient method for manufacturers, vendors and business partners across all functions to measure performance and generate mutual growth with Walmart. The POS data and analytic applications Walmart uses internally is supplied to manufacturers by Nielsen, enabling them to align, collaborate and grow with a consistent view of the marketplace, allowing faster action on opportunities, which can reduce costs and improve customer experience.
Additionally, Walmart has named Nielsen its preferred provider of POS data, meaning Nielsen numbers are now the baseline for performance measures and analytics within Walmart. Moreover, Walmart’s Jet.com ecommerce arm will join Nielsen’s ecommerce measurement service as part of the Schaumburg, Ill.-based company’s total U.S. market read.
“We aspire to be a key linkage in Walmart's supply chain and deliver significant simplicity to Walmart, which is consistent with their everyday-low-prices philosophy,” said Steve Hasker, global president and COO, Nielsen. “It is a very, very significant moment for us. It is a very valuable data set, and it will underpin the growth of the connected system, particularly in the US with the inclusion of Jet.com going forward.”