“The future of retail lies in the data we can leverage and the insights we can gain from it. It’s about changing the way we understand and meet customer needs,” says Arnabh Bhaumik, a leading retail analytics expert.
Arnabh’s journey from engineer to major figure at Walmart’s Data Ventures best exemplifies the rapidly evolving field of data analytics. His work has completely transformed Walmart’s retail strategy and set new standards for the entire sector.
A series of strategic transitions
Arnabh’s expertise in engineering, market research and product management gives him a unique insight into the complexities and prospects of retail analytics. Bhaumik has a solid academic background, including a Master of Science in Management Information Systems from Texas A&M University and a Bachelor of Engineering in Information Technology from Mumbai. His training in machine learning and product management from Stanford School of Continuing Studies has further honed his skills.
Bhaumik began his career in retail analytics at Sears, a company that was on the brink of bankruptcy. After joining Walmart, he helped the company transform into an omnichannel leader. He had a major impact on Walmart Data Ventures, where he was one of the first employees hired. He brought industry-changing innovations to market and built a team that pushed the boundaries of innovation in secure peer-to-peer data sharing.
One of Bhaumik’s signature achievements is the development and launch of a range of headless access products. These solutions have revolutionized the way suppliers receive critical business data from Walmart, enabling seamless integration with their systems. Arnabh has also focused on removing friction from the self-checkout process, a crucial aspect of modern retail.
The impact of analytics on retail
According to recent data, the retail analytics market in the US is expected to grow from $4.2 billion in 2024 to $5.6 billion in 2025. This rapid growth confirms retail’s increasing reliance on data-driven decisions. Bhaumik’s contributions are helping to shape this evolution.
The COVID-19 pandemic has highlighted the importance of data analytics in managing workforce operations. Arnabh’s work on pharmacist scheduling, which used machine learning algorithms to predict workloads and create efficient schedules, was critical to ensuring Walmart’s pharmacies could meet demand. This system, still used in over 4,600 stores, demonstrates how analytics can increase operational efficiency and service reliability.
Another of Arnabh’s well-known contributions is the introduction of real-time signals through inventory management APIs, enabling suppliers to take immediate action on inventory management, improving operational agility. A typical example of this is the collaboration with American Greetings, which has benefited tremendously from this capability, as described in a case study by Walmart Data Ventures.
The future of retail analytics
The role of data in retail will become even more important in the future. The industry is expected to see advances in artificial intelligence (AI) and machine learning, leading to more sophisticated predictive models and personalized customer experiences. Sustainability analytics will also be critical, helping retailers optimize their supply chains and reduce environmental impact.
Retail analytics firms in the US, including those led by Arnabh, will increasingly look for opportunities in emerging markets. Bhaumik’s work at Walmart demonstrates the game-changing power of data and makes him and his work solid examples of how retail analytics will evolve in the future. “The opportunities that data analytics offers to retail are endless and we are only scratching the surface,” concludes Bhaumik.
