I’m recommending this podcast with the President of LightSpeed for anyone interested in the company. It’s an easy listen, just 33 minutes and it was the most inspiring Podcast I’ve ever listened to. One of its main focuses is about how their new acquisitions will enable them to profit from and monetize their data. But it’s different than how Upstart uses data (from the past). A lot of it is using data from right now. For example, say they are working with both women’s clothing producers and stores, and they are all integrated into Lightspeed. The producers can learn as the sales happen, which models are selling in what kind of stores (and where), and what’s not selling, and adjust their production right then and there, rather than waiting until the end of the month or the quarter. The store can learn which manufacturers’ dresses are selling in the store’s kind of neighborhoods, and which particular models (or colors) are selling best, and they can adjust their purchases that way. It’s instantaneous information.
Listen to the Podcast! And I would recommend listening instead of reading the transcript in this case, so you can feel the enthusiasm and intelligence of the speaker.