Washington, D.C. (PRWEB) August 04, 2015
Applied Predictive Technologies (APT), a leading cloud-based predictive analytics software company, announced today that Shopko, a retailer that operates nearly 350 stores across the Midwest, has extended its relationship and has renewed its license of APT’s Test & Learn® and Market Basket Analyzer software for another three years. Shopko will continue to use APT’s software suite to support strategic decisions across merchandising, marketing, and capital investments. Additionally, Shopko has decided to license APT’s Space Planning Optimizer software.
In licensing APT’s Space Planning Optimizer, Shopko joins retail leaders who use the software to make space allocation decisions to help localize assortments across their store base.
“Shopko is making efforts to continue to localize and tailor our assortment for our customers. We recognized the opportunity to leverage APT’s Space Planning Optimizer as a way to accelerate and advance our capabilities to achieve our goals of having more tailored assortments and customer shopping experiences in our different markets,” said Russ Steinhorst, Shopko’s CFO.
“We found that once the space-related data was identified, validated, and loaded –which took less than 3 days—the software generated fresh, new insights. The software was able to quantify incremental margin opportunities from modest space changes. The software also prioritized the stores where we would generate the largest impact from our space changes. Another benefit recognized was that the software helped identify new store clustering opportunities as well as optimizing pre-determined store clusters. Having a space planning tool that can not only make recommendations but can, in real-time, quantify and optimize the impact of our own space recommendations, has improved our ability to use analytics to make more effective space allocation decisions,” said Todd Armstrong, Shopko’s VP of Finance.
In addition to licensing APT’s Space Planning Optimizer software, Shopko is extending its Test & Learn® and Market Basket Analyzer licenses.
“APT’s Test & Learn software has transformed the manner in which we shape and evaluate our key strategic and operational initiatives. The value already generated from using the software made it very easy for us to renew our license,” continued Steinhorst.
Beyond Test & Learn®, Shopko also uses APT’s Market Basket Analyzer software, which helps retailers automatically synthesize their transaction-level data to rapidly identify which items to promote, which to bundle, which to cut, and more.
“With Market Basket Analyzer, decision-makers across our organization have basket-level insights at their fingertips within minutes. Whether informing SKU rationalization decisions, designing promotional bundles, or determining which products are true traffic drivers, we use Market Basket Analyzer to get a more holistic picture of each item, including the typical purchase behavior and customer loyalty associated with that item,” said Tom Abbott, Senior Vice President at Shopko. “We are very excited to continue our relationship with APT and to leverage Test & Learn and Market Basket Analyzer to quantify and optimize the customer value of our strategic decisions and initiatives.”
On the relationship, Jonathan Marek, Senior Vice President at APT, said, “We are very excited that Shopko has decided to continue using APT’s software to make data-driven decisions. We will continue to help Shopko’s dedicated team enhance the customer experience and achieve their goals.”
Founded in 1962 and headquartered in Green Bay, Wisconsin, Shopko Stores Operating Co., LLC is a $3 billion retailer that operates nearly 350 stores in 25 states throughout the Midwest, Central, Western and Pacific Northwest regions. Retail formats include 131 Shopko stores, providing quality name-brand merchandise, great values, pharmacy and optical services in small to mid-sized cities; 5 Shopko Express Rx stores, a convenient neighborhood drugstore concept; and 203 Shopko Hometown locations, a smaller concept store developed to meet the needs of smaller communities. For more information, visit http://www.shopko.com.
APT is a leading cloud-based analytics software company that enables organizations to rapidly and precisely measure cause-and-effect relationships between business initiatives and outcomes to generate economic value. Our intuitive and proprietary Test & Learn® software utilizes sophisticated algorithms to analyze large amounts of data, enabling business leaders to conduct experiments and allowing them to make optimal decisions and implement business initiatives at scale. We also offer products that support decision-making for specific business needs including transaction analysis, space planning, category management and location selection. APT’s client portfolio features some of the world’s best known brands, including Walmart, Starbucks, Coca-Cola, Victoria’s Secret, American Family, Hilton Hotels, SUBWAY, TD Bank, T-Mobile, and others. APT has offices in Washington, D.C., San Francisco, London, Bentonville, Taipei, Tokyo, Sydney, and Chicago. Visit http://www.predictivetechnologies.com to learn more.