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APT Index: February Same-Store Restaurant Sales Increase [+3.5%]

March 10th, 2015 | Posted by Mckenzie Harper in Restaurants | Restaurants | Restaurants - (Comments Off on APT Index: February Same-Store Restaurant Sales Increase [+3.5%])

APT today announced that the APT Index of in-store restaurant sales for February 2015 increased [+3.5%] compared with February of last year. The increase was driven by an increase in check size [+4.4%]. The APT Index of Quick-Service Restaurant sales increased [+5.5%] and the APT Index of Full-Service Restaurant sales increased [+2.2%]. Click here to read the full report.

8 Tips for Improving Your Testing Process

February 3rd, 2015 | Posted by Admin in Restaurants - (Comments Off on 8 Tips for Improving Your Testing Process)

Most restaurant chains use in-market tests to help inform decisions. But just running tests isn’t enough. Based on our work with dozens of restaurant brands, here are eight tips for improving your testing process. (more…)

APT Chairman Co-Authors Harvard Business Review Article

December 15th, 2014 | Posted by Mckenzie Harper in Restaurants - (Comments Off on APT Chairman Co-Authors Harvard Business Review Article)

APT Co-Founder and Chairman, Jim Manzi, recently co-authored a Harvard Business Review article with HBS Professor Stefan Thomke about how experimentation can help companies de-risk new ideas and drive innovation. The article details a “checklist” for running business experiments and identifies how Big Data can dramatically improve the experimentation process.

Click here to download a full copy of the article.

Key Analytic Challenges for Restaurants

October 10th, 2014 | Posted by Mckenzie Harper in Restaurants - (Comments Off on Key Analytic Challenges for Restaurants)

APT SVP Jonathan Marek discusses a key challenge for restaurants: isolating the incremental impact of each action from the noise inherent in day-to-day operations.

APT’s Software Suite for Restaurants

July 28th, 2014 | Posted by Casey Corman in Restaurants - (Comments Off on APT’s Software Suite for Restaurants)

APT SVP Jonathan Marek discusses APT’s software suite for restaurant organizations, which includes Test & Learn, Menu Analyzer, and the APT Index.

The Economist Intelligence Unit: How do Executives Make Decisions?

June 2nd, 2014 | Posted by JAtre in Restaurants - (Comments Off on The Economist Intelligence Unit: How do Executives Make Decisions?)

To “decide” can be interpreted as “picking one option and killing off all others.” In business, doing this right has large rewards and getting it wrong has severe consequences. While executives have always made decisions, increasing amounts of data, sophisticated consumers, rapidly evolving technology, and disruptive competitors, are fundamentally changing the art and science of decision-making.

APT partnered with the Economist Intelligence Unit to study how decision-making is rapidly evolving across various industries and geographies. The resulting report addresses tough and important questions, such as:

(1) How do executives blend intuition with data? Are companies allowing executives to trust intuition?

(2) How are executives using data in decision-making when the data is counter-intuitive to their beliefs?

(3) With so much data available, which data should executives consider? And, how should they best incorporate it in decision-making?

The report will be released on June 5th in London. Please email info[at]aptmail.com to be the first to get a complimentary copy of this actionable report written by the Economist Intelligence Unit.

Red Robin on Using Test & Learn to Make Profitable Decisions

March 26th, 2014 | Posted by Casey Corman in Restaurants - (Comments Off on Red Robin on Using Test & Learn to Make Profitable Decisions)

In a recent All Analytics article titled “Red Robin Plates Up Big-Data Insight,” Chris Laping, CIO at Red Robin, discusses how the gourmet burger chain is using APT’s Test & Learn software to understand the incremental impact of large dollar investments across their business. Click here to read the article.

“Rather than go it alone on big-data analytics, Red Robin has partnered with a ‘really smart company to help do that test-and-learn stuff,’ Red Robin CIO Chris Laping said… The ‘really smart’ partner helping with the test-and-learn is Applied Predictive Technologies, or APT, a cloud-based predictive analytics company that’s built up a discipline and set of analytics tools for Red Robin.”

The Secret of Selling the $5 Footlong

March 12th, 2014 | Posted by Casey Corman in Restaurants | Restaurants - (Comments Off on The Secret of Selling the $5 Footlong)

A recent Wall Street Journal article, The Secret of Selling the $5 Footlong,” discusses how marketing innovation is fueled by a consistent process of experimentation. In the article the CMO of Subway, Tony Pace, says that staying ahead is “all about testing and learning.” He adds, “there is plenty of data, but big data doesn’t mean you get big insights. Companies have to sift through the data and come up with hypotheses and test them.”

Subway is a long-time, valued APT client.  They, like dozens of other restaurants, leading retailers, banks, hotels, telecom companies, and manufacturers, leverage Test & Learn to make faster, more accurate decisions.

Big Data Zeroes in on Ad Inefficiency

February 19th, 2014 | Posted by Casey Corman in Restaurants - (Comments Off on Big Data Zeroes in on Ad Inefficiency)

“Half the money I spend on advertising is wasted. The trouble is, I don’t know which half,” John Wanamaker famously said. In a recent blog, Alan Mutter discusses how consumer-facing organizations are using APT to isolate the incremental impact of each media investment. An excerpt from his post is below.

“Nowadays, Wanamaker could find out, with considerable precision, by hiring Applied Predictive Technologies (APT), a Virginia-based company that mines all manner of data to determine not only the optimum ways to buy advertising but also where to locate bank branches and which under-performing entrees to nix from restaurant menus…

…With customers like Walmart, Lowe’s, Office Depot, PetSmart, CVS, Target, Walgreen’s and many other global merchants, APT asserts that it captures and crunches 20% of data generated in the “U.S. retail economy.” It bounces this rich transactional data against everything from weather records to Twitter streams to help companies “measure the profit impact of pricing, marketing, merchandising, operations and capital initiatives.”

Click here to read the full blog.

5 Overlooked Facts of Restaurant Pricing

January 30th, 2014 | Posted by Casey Corman in Restaurants | Restaurants - (Comments Off on 5 Overlooked Facts of Restaurant Pricing)

Nation’s Restaurant News recently published an article by APT SVP Jonathan Marek about the five often overlooked facts about restaurant pricing. Jonathan discusses the following about pricing strategies:

  • “You can’t understand the impact of changing prices without a test versus control analysis.”
  • “Cross-elasticity rules restaurant economics.”
  • “Price elasticity varies by store — a lot.”
  • “If you have a franchised concept, your franchisees are likely testing prices for you.”
  • “Pricing analysis should not be outsourced.”

Here is the link to the full article: http://nrn.com/opinions/5-overlooked-facets-restaurant-menu-pricing