Washington, D.C. – From May 7-9, 2017, business leaders from organizations across industries attended the 13th annual Test & Learn® Summit at the Terranea Resort in Rancho Palos Verdes, Calif., where they discussed best practices for leveraging APT’s analytics software to improve decision-making and drive value. Attendees represented over 135 companies, including Walmart, Coca-Cola, Starbucks, T-Mobile, IHG, and SunTrust.
Anthony Bruce, CEO of APT, addressed the Summit on Monday morning. Bruce’s keynote discussed why it is critical for organizations to not just diagnose the challenges they face, but leverage analytics to identify actionable recommendations.
“Analytics requires diagnosis and prescription,” Bruce said. “Technologies like machine learning and artificial intelligence are not only increasingly becoming part of our daily lives, but they can provide advances in complex data diagnosis. When complemented with methods such as Test & Learn®, which go beyond diagnoses to provide prescription, businesses can confidently take action. They can diagnose what challenges they face and prescribe what action to take.”
Neil Manhas, Managing Director at Pizza Hut UK, also spoke to conference attendees on Monday, focusing on how organizations can capitalize on opportunities to test new ideas and make the best possible decisions at the right times.
“At Pizza Hut UK, our recipe for success is based on having a customer-led, fast-paced and fact-based growth mindset,” he said. “Indeed, having a growth mindset is crucial in a world that's becoming increasingly volatile, uncertain, complex and ambiguous. Businesses need to embrace the opportunity that disruption brings – the opportunity to test, learn, evolve and grow. Importantly, having a growth mindset means not being afraid to fail. Failing and learning fast is healthy. Indeed, if you're not failing, you probably aren't being bold enough. Just as success isn't final, neither is failure fatal. What will be fatal in today's climate is hesitation.”
In his keynote address, Michael Schrage, an MIT Sloan School Initiative on the Digital Economy Research Fellow, discussed how analytics can add business value.
“Well-designed business experiments make innovation simpler, safer and more scalable,” he said.
In addition to the keynote addresses, attendees participated in more than 50 interactive breakout sessions, as well as numerous networking events. The breakout sessions covered topics including:
Creating a Culture of Innovation — This presentation addressed the characteristics of an innovative company culture and provided actionable recommendations for affecting organizational change and encouraging innovation
Leave No Money on the Table: Using Test & Learn® to Make Pricing Decisions — This discussion addressed how organizations can use APT's software to look beyond the overall effect of price changes on revenue, product mix, and traffic to target price changes by customer segment for maximum value
How to Inform Capital Investment Decisions Using APT — This session discussed how organizations can maximize overall return on capital invested and create actionable value through APT's software by identifying the right level of investment for the right locations
APT, a Mastercard Company, 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. APT also offers products that support decision-making for specific business needs including transaction analysis, space planning, promotion design, category management, and location selection. APT has offices in Washington, D.C., San Francisco, London, Bentonville, Taipei, Tokyo, Sydney, Chicago, and New York. Visit http://www.predictivetechnologies.com to learn more.