APT President and COO Patrick O’Reilly presented on a panel at the NACS Show, along with Joe Venezia, SVP Operations at The Pantry, on how leading convenience retailers are leveraging their Big Data to drive actionable and profitable business decisions. The hundreds of attendees learned how in-market testing can be used to understand the true incremental impact of each decision (e.g. new promotions, merchandise resets, capital expenditures, etc.). Additionally, Venezia highlighted how the Pantry, working with APT, has been able to derive additional value from using transaction-level and customer-level data to understand how to tailor different initiatives for maximum impact.
“The problem is that c-stores operate in a noisy environment,” O’Reilly said. “You’re trying to find a 1% comp gain–which is good for an industry [comparison]–but that’s amid a 20% plus or minus [average shift]. That said, O’Reilly believed that analytical steps using the proper number of control and test stores could mitigate the shifts and lead to concrete results, answers that can validate a retailer’s gut instinct or persuade him or her to pursue another direction.”
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