“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.