Nike Takes Possession of Data Science Company to Grow Digital
Going digital is a new endeavor for all the businesses today and Nike is no exception. It acquires Boston-based Celect, a data science company as part of the sportswear giant’s continuing digital push. The company uses data to predict retail behavior.
As the foot traffic is going down at traditional shopping centers, Nike has started using its digital channels, including apps and its website, to give thrust to its sales.
“With the acquisition of Celect, Nike greatly accelerates our digital advantage by adding a platform developed by world-class data scientists.” said Nike Chief Operating Officer Eric Sprunk in a news release. “As demand for our product grows, we must be insight-driven, data-optimized and hyper-focused on consumer behavior. This is how we serve consumers more personally at scale.”
Celect’s foundations were laid in 2013 by two tenured Massachusetts Institute of Technology professors, Vivek Farias and Devavrat Shah. After the acquisition, the company will now become part of Nike’s Global Operations Team.
Farias and Shah will continue to teach at MIT and consult for Nike.
“We’re thrilled to be joining the Nike team, adding our unique and innovative capabilities to the data and analytics foundation they’ve been building over the years,” said Celect CEO John Andrews.
This acquisition is a clear mark of shifting consumer habits and penetration of technological advancements. Digital technologies are becoming key to organizations in order to drive sales and improve the selling power of businesses. However, that would not suffice until a digital selling strategy is formulated and put in place to guide the organization as a whole.