We no longer spend time validating test results; APT’s software enables more focus on developing predictive insights. It has increased our ability to evaluate and recommend value creating initiatives
Washington, DC (PRWEB) May 18, 2011
Executives from the world’s leading retailers, banks, hotels, restaurants and manufacturers - including Victoria’s Secret, SunTrust, Holiday Inn, and Kraft, among many others - gathered earlier this month at the Mandarin Oriental Hotel in Washington, DC for Applied Predictive Technologies' 7th Annual Test & Learn™ Best Practices Summit. Each spring, the event convenes decision-makers from a wide range of industries to discuss ways to better leverage scientific testing in the business world to drive consumer satisfaction and improve profits.
The conference commenced with a keynote address delivered by Darrell Rigby, the Global Head of Bain & Co.’s Retail and Innovation Practice Groups and author of Management Tools: An Executive's Guide. In his speech, titled “Innovation for Fun and Profit,” Mr. Rigby discussed how companies can successfully define and refine strategy by systematically testing creative ideas and programs that engage the whole mind. Mr. Rigby explained that “even in a recession, nearly eight out of ten global executives asserted that innovation is more important than cost reduction for long term success.”
Few companies, however, innovate profitably. Mr. Rigby highlighted that successful innovation requires companies to build teams that combine creative capabilities with commercial skills. “It is rare to find companies in which analytic or finance functions are seen as being creative,” Mr. Rigby shared, “and it is unclear that you want ‘creative accounting’. Accelerating innovation is often less about fundamentally transforming individuals and more about putting in place a process for groups to work together. As component of that process, many of the world’s most successful innovators leverage in-market testing to validate and improve their ideas.”
The second keynote address was delivered by Bill Lambert, Senior Vice President of Finance and Controller for LongHorn Steakhouse, part of the Darden family of restaurants. Mr. Lambert focused on how predictive insights, derived from running in-market tests, are central to forming strategy for a company with more than 1,800 restaurants, 180,000 employees, and $7 billion in annual sales.
“We no longer spend time validating test results; APT’s software enables more focus on developing predictive insights. It has increased our ability to evaluate and recommend value creating initiatives,” Mr. Lambert stated.
Commenting on the Summit’s growing annual attendance, Anthony Bruce, CEO of Applied Predictive Technologies, commented “every year we see more industry leaders using scientific testing to make the biggest decisions facing their organizations. It is great to hear the success stories of how Test and Learn has dramatically improved profits at so many companies. We are committed to making Test and Learn a core competitive advantage for all our clients.” To learn more about APT and scientific testing, visit http://www.predictivetechnologies.com
About Applied Predictive Technologies
Applied Predictive Technologies (APT) is the world leader in helping organizations harness the potential of Test & LearnTM, a powerful fact-based approach for choosing, targeting, and tailoring strategic and tactical actions for maximum impact and profitability. More than 50 Global 2000 leaders have licensed APT’s Test & LearnTM software, including Subway, Kraft, Wells Fargo, Holiday Inn, Staples, Lowe’s, Victoria’s Secret, Food Lion, and Toronto Dominion. APT has offices in London, San Francisco, Taipei, and Washington, D.C. Learn more about APT at: http://www.predictivetechnologies.com.