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Applied Predictive Technologies: The Benefits for Businesses and Customers

Hillary Cyril

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Analysis

Applied Predictive Technologies, otherwise known as APT, has been around for several years. It began in the early 1990s and uses data mining techniques to generate reports that are highly reliable and accurate. Applied Predictive Technologies is an award-winning company based out of San Francisco, California. The founders had the vision to apply statistical algorithms to provide quantitative statistical analysis and predictability for all types of data. Their main goal was to create the ultimate business intelligence system. Years later, this technology has grown and become very successful.

Applied Predictive Technologies provides its clients with business intelligence software programs that utilize large databases of statistical tools to make business decisions. The company claims that it can reduce the cost and risk associated with in-store credit card purchases by 90 percent. This technology allows retailers to test their web applications and e-commerce websites in a safe environment. Using these tools, the customers can find the product they need with just a few clicks of the mouse. This gives the retailer the opportunity to test their website without spending money on expensive web development and hardware upgrades. Many traditional retailers are taking advantage of the applications available through Applied Predictive Technologies.

For many retailers, the key to growing their business and generating more profits is staying ahead of the competition. By implementing these software programs, they can improve the quality and quantity of sales while reducing their advertising costs. Because many retailers have not yet been able to fully benefit from the advances made in this technology, they are now starting to look into ways in which they can use the APT applications for themselves. They can then reap the benefits of using this cutting-edge software to help increase sales and profits.

Analysis

Applying predictive technology to in-store retail environments is proving to be beneficial to many retailers. This type of software not only helps reduce labor costs but also allows the company to take measures to ensure that its customers remain happy and stay loyal to the business for a long time to come. Because it is impossible to please everyone, businesses have to employ strategies that will work the best for them. In-store predictive displays are one way that they are doing this. This allows them to attract and retain customers in the stores rather than constantly losing them. In fact, according to one recent study, a whopping seventy percent of customers say that they usually don’t leave stores due to poor customer service.

Applying predictive technologies to the data that is collected in a store has the potential to benefit both the store owners and the businesses that are located inside the store. This type of technology takes shopping habits, customer data, and other factors into consideration before determining what products and services to offer an individual customer. It not only identifies what people want to buy but also provides information about their past shopping experiences. This helps businesses to make smart decisions regarding what products to add to their shelves. For instance, if an individual shopper has recently bought three pairs of jeans but has only bought one in the past year, the software can identify that he may be interested in trying a new pair and suggest that it would be a good idea for him to try on a particular pair.

Applying predictive technologies in the data that is collected at a store has the potential to drastically improve a business’s profitability. Because of this, more establishments are using such a strategy to determine what products to sell and which ones to avoid. As a result, they are able to provide better services to their customers and earn higher profits at the same time. Thus, instead of spending money on ineffective advertisements and marketing campaigns, businesses can focus more on providing goods and services that will solve a person’s problems and make them feel better.

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