
THE HOME DEPOT ANALYTICS GROUP

Proposed Business Model
In order to achieve future success, The Home Depot must focus on building better partnerships and relationships with stakeholders and vendors along with innovating and improving its online eCommerce and in-store experience and pro services to its pro consumers. The first step in building a better Business model starts by building better relationships. By adding a customizable experience for both Pro and DIY customers in-store and online will help in creating long-lasting and loyal customers. This can be done through partnerships with vendors in implementing AI, VR, and AR and Machine Learning solutions. This will create an in-home experience for the customers before ever making a purchase. For example, through the use of AR technologies, customers can envision and see how a product would look in their home or how a paint color would look on their wall all before ever making a purchase, adding to the value of the experience. Through the use of AI and Machine Learning, Pro consumers can see how much supplies would cost before ever loading a truck and offer price alternatives and material suggestions through AI and Machine Learning applications.
To be honest, The Home Depot already uses some of these tools and applications, but like anything, it can be improved upon to offer a wider range of experiences customized to each individual. The process flow chart depicts the steps needed to create, test, and implement projects related to the areas mentioned above, along with a brief estimated cost analysis showing a comparison between the cost of the project and projected future gain.
Implementation Process Flow Chart
Made in Canva: Source: (The Home Depot Yearly Report, 2021)

Image Source: (The Home Depot. 2022)
Source: (The Home Depot Financial Report, 2021)


