Walmart and Nielsen create new version of truth
Walmart has named Nielsen its preferred provider of point of sales data as part of an expanded relationship that also involves the Jet.com online unit.
The expanded relationship between Walmart and Nielsen is being hailed as a new syndicated data collaboration effort called, “Walmart One Version of Truth.” Nielsen shared news of the agreement during its investor conference on Nov. 9 and claims the arrangement will provide a new and more efficient way for suppliers and business partners to measure performance and drive growth with Walmart.
Nielsen is the only company that offers manufacturers the same point-of-sale data and analytic applications that Walmart uses internally, enabling them to align, collaborate and grow with a consistent view of the marketplace, according to Nielsen. That consistent view – or one version of truth – is a reference to the advent of scanning technology that improved the accuracy of sales data trading partners could rely on for decision-making.
“We are proud of this distinction and honored that Walmart has named Nielsen as its preferred provider for POS data and the sole provider of Walmart One Version of Truth,” said Mitch Barns, CEO of Nielsen. “Aligning with Walmart’s customer-centric philosophy, the collaboration program we are developing will ultimately yield a deeper understanding of customer preferences, enabling Walmart and its supplier partners to have a common data set that fuels faster, better informed decisions. At the end of the day, enabling efficiency is an opportunity for us to bring innovation and progress to the industry, together.”
Being named Walmart’s preferred provider of POS data means that Nielsen numbers are the baseline for performance measures and analytics within Walmart, Nielsen said. The arrangement will also offer a more complete view of the digital landscape because Walmart’s Jet.com unit will join Nielsen’s e-commerce measurement service.
Speaking to attendees at the investor conference, Barns elaborated on the two key components of the expanded Walmart relationship.
“The first one is that Nielsen will be the sole provider of data for the program that enables collaboration between Walmart and its major suppliers. Walmart One Version of Truth will include Nielsen’s data, of course, and also Nielsen’s analytics and apps, and all of the major suppliers doing business with Walmart will do so via this program,” Barns said. “The second key component of this expanded relationship at Walmart is Jet.com will become a co-operator in our e-commerce measurement service. And that enables us to provide a sharper view of e-commerce sales here in the U.S. market to our clients going forward.”