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NORTH SALT LAKE CITY, Utah — Maverik Inc. inked an agreement to license Applied Predictive Technologies' (APT) Test & Learn and Market Basket Analyzer software modules. It will use this software to improve its data-driven decision making across merchandising, pricing, marketing, operations and capital investments.
"Though we have a great analytics team at Maverik, APT’s software has improved the speed, accuracy and granularity of our data-driven decisions," said Aaron Simpson, vice president of Customer Fanatics at Maverik. "Unlike other software tools, APT generates actionable recommendations for how to improve performance across a wide range of business programs."
APT’s Test & Learn software allows Maverik to reduce the risk associated with rolling out a new strategy across its network, according to Simpson. "It rapidly tells us the incremental impact of each new idea, while providing store-by-store recommendations about which ideas to deploy,” he explained.
Maverik joins several other convenience store chains using APT's cloud-based technology, including Shell Energy North America, Sunoco Inc., Thorntons Inc., Wawa Inc. and Kangaroo Express parent The Pantry Inc.
“As retailers collect more data about the details of each transaction, the question becomes: How do we use this data to improve decisions?” said Marek Polonski, senior vice president at APT. “The first way is through rapid and in-depth analysis of their transaction-level data. Such analysis helps retailers design more effective promotions, improve their bundling strategies to grow basket size and understand which SKUs to rationalize. Another way in which convenience stores are effectively using their data is through Test & Learn."
Washington, D.C.-based Applied Predictive Technologies is the world's largest cloud-based predictive analytics software company.
North Salt Lake City-based Maverik Inc. — known as "Adventure's First Stop" — operates more than 250 convenience stores in 10 western states.