Washington, D.C. (PRWEB) July 29, 2014
Over recent months, consumers have enjoyed an incredible amount of innovation as QSRs continue to develop creative menu items, redesign restaurants, and implement new technologies. From Donut Sandwiches to Pretzel Cheeseburgers to healthier French Fries, foodies and fast food lovers alike have had their appetites whetted and their minds blown. But, have these new strategies led to increased profits? With the demand for data-driven innovation at an all-time high, Applied Predictive Technologies (APT) announced today that The Wendy’s® Company, the world's third-largest quick-service hamburger company, has extended its partnership and will continue licensing APT’s Test & Learn software for another three years. Wendy’s® will use the software to test strategic initiatives in menu changes, remodels, marketing, pricing, and operations across its system of more than 6,500 company and franchise-operated restaurants. Wendy’s® is one of dozens of industry-leading restaurant organizations across four continents that license APT’s software, including Starbucks, SUBWAY, Panera, Costa, and McDonald’s APMEA.
The expanded relationship will enable Wendy’s® to continue to understand the incremental impact of each new innovative idea, like a significant menu change or capital investment, before rolling it out chain-wide.
“As quick service restaurants continue to experiment with new digital technologies, deal with rising food and labor costs, and more, executives wrestle with various strategic and tactical questions,” said APT Senior Vice President Will Weidman. “Should we invest in digital menu boards? How many team members should we have in a restaurant at a given time? How much capital should we invest in restaurant refits? Should we raise prices on some menu items? The right answers are unknown until they are tested in the real world.”
Weidman added, “Evaluating the effect of tests on the business can be extremely challenging. Uncontrollable factors, including changes in weather, competitor actions, and socioeconomic conditions all impact the outcome of new programs. As such, isolating the impact of a program amidst all of this noise is challenging, making it difficult for restaurants to answer the question: did our initiative really work?”
APT works directly with senior leadership teams at restaurant companies, like Wendy’s®, to understand the company’s business objectives and goals for customer satisfaction and financial performance. Resulting tests range from small menu changes, such as removing an underperforming menu item, to bold transformative initiatives, such as introducing a new value menu, changing service style, or large increases or decreases in marketing investments.
“The decision to continue our relationship with APT was an easy one,” said Leigh Burnside, Vice President of Finance & Planning at Wendy’s®. “Test & Learn continues to be a critical part of our organizational decision-making process as we continually seek to improve guest satisfaction and shareholder value. Wendy’s® has used the APT software to evaluate the effectiveness of many initiatives. After an initiative is evaluated through consumer research, we use the Test & Learn software to analyze it in scientific in-market tests. The software automatically shows us whether the initiative generated incremental visits or simply cannibalized existing business.”
About The Wendy's® Company
The Wendy's® Company is the world's third-largest quick-service hamburger company. The Wendy's® system includes more than 6,500 franchise and Company-operated restaurants in the United States and 28 countries and U.S. territories worldwide. For more information, visit about aboutwendys.com or wendys.com.
APT is the world’s largest purely cloud-based predictive analytics software company. APT’s Test & Learn software is revolutionizing the way Global 2000 companies harness their Big Data to accurately measure the profit impact of pricing, marketing, merchandising, operations, and capital initiatives, tailoring investments in these areas to maximize ROI. APT’s client portfolio features the world’s best known brands, including Walmart, Staples, Lowe’s, Starbucks, Victoria’s Secret, Hilton Hotels, and others. APT has offices in Washington, D.C., San Francisco, London, Tokyo, and Taipei. Visit http://www.predictivetechnologies.com to learn more.