A recent $100 million investment into cloud-based predictive analytics illustrates substantial growth this field. Applied Predictive Technologies (APT), a purely cloud-based predictive analytics software company, received a $100 million minority investment from the Merchant Banking Division of Goldman Sachs. Anthony Bruce, APT’s CEO , commented:
“Over the years, APT has built the industry of robust cause-and-effect predictive analytics. Many of the largest companies in the world, including Walmart, Hilton, Anheuser-Busch InBev, McDonald’s, and over a hundred others, have been successfully using APT’s products to make critical decisions across all key functional areas. As we further expand the breadth and depth of industries we serve across the globe, we are excited to have Goldman Sachs as a valuable partner.”
The challenge for most large organisations today is not in collecting enormous quantities of data, but how to rapidly use this Big Data to make decisions that drive business value. APT’s software platform is revolutionising the way Global 2000 companies harness their Big Data to accurately measure the profit impact of advertising, marketing, pricing, merchandising, operations and capital initiatives, tailoring investments in these areas to maximise ROI. Data for 20% of the US retail economy is processed using APT’s growing suite of products, including Test & Learn, Market Basket Analyzer, Network Planner, Merchandise Optimizer, and Performance Manager, among others.