Walmart has acquired a predictive intelligence company called Inkiru. The acquisition was made through Walmart’s Silicon Valley innovation incubator @WalmartLabs. Inkiru will be used to accelerate Walmart’s analytics capabilities. The terms of the acquisition was undisclosed.
Inkiru works with retailers and financial institutions collect large amounts of data and use business intelligence to make sense of the date. Since the volume, velocity, and variety of data collection is increasing, the need to analyze information in real-time has become essential. Inkiru can use this data to reduce fraud, improve customer segmentations, and for targeting.
“We are also pleased to welcome Inkiru?s many talented data scientists and infrastructure engineers who are helping to shape the future of commerce. Among those joining us are Vijay Raghavendra, a technology executive with expertise in building and scaling commerce, payments and risk management platforms and applications for virtual goods and traditional online retailers; Jaya Kolhatkar, a preeminent data scientist who has held many successful roles building and leading data science teams in commerce and payments; and Yitao Yao, a software architect and visionary with 20+ years of experience in architecting, designing, and implementing large scale software systems,” said Walmart in a blog post. “In addition, Inkiru?s founder, Alok Bhanot, will join @WalmartLabs as a full time advisor to help the team deliver the next generation predictive analytics platform.”
Walmart has been active in acquisitions lately. Last month, Walmart Labs acquired OneOps and Tasty Labs. As a result of this acquisition, the retail experience at Walmart.com may be enhanced due to better data analytics and personalization.