McDonald’s Acquires AI-Powered Omnichannel Personalization Company Dynamic Yield
Dynamic Yield's artificial intelligence technology will allow McDonald's to link the predictive nature of their customer demand all the way through to stock levels in the restaurants and communicate data back down through the supply chain.
About Dynamic Yield
Dynamic Yield is an AI-powered Personalization Anywhere™ platform that delivers individualized experiences at every customer touchpoint: web, apps, email, kiosks, IoT, and call centers.
The platform’s data management capabilities provide for a unified view of the customer, allowing the rapid and scalable creation of highly targeted digital interactions.
McDonald's and Dynamic Yield
With this acquisition of Dynamic Yield, based in New York and Tel Aviv, McDonald’s builds on its significant technology investments for growth.
McDonald’s will utilize this decision technology to provide an even more personalized customer experience by varying outdoor digital Drive Thru menu displays to show food based on time of day, weather, current restaurant traffic, and trending menu items.
Using data, the decision technology can also instantly suggest and display additional items to a customer’s order based on their current selections.
This will enable McDonald’s to be one of the first companies to integrate decision technology into the customer point of sale at a brick and mortar location. McDonald’s tested this technology in several U.S. restaurants in 2018.
Upon closing of the acquisition, McDonald’s will begin to roll this technology out in the Drive Thru at restaurants in the United States in 2019 and then expand the use to other top international markets.
McDonald’s will also begin work to integrate the technology into all of its digital customer experience touchpoints, such as self-order kiosks and the McDonald’s app.
Dynamic Yield’s ability to meet McDonald’s customer needs, coupled with their commitment to growing capabilities around ever-changing consumer trends and evolving marketing technologies, allows for the continued advancement and elevation of the McDonald’s customer experience with technology and innovation.
“Technology is a critical element of our Velocity Growth Plan, enhancing the experience for our customers by providing greater convenience on their terms,” said Steve Easterbrook, President and Chief Executive Officer, McDonald’s Corporation.
“With this acquisition, we’re expanding both our ability to increase the role technology and data will play in our future and the speed with which we’ll be able to implement our vision of creating more personalized experiences for our customers.”
“What we hadn’t done is begun to connect the technology together, and get the various pieces talking to each other,” says Easterbrook, in an exclusive interview with WIRED. “How do you transition from mass marketing to mass personalization? To do that, you’ve really got to unlock the data within that ecosystem in a way that’s useful to a customer.”
Bottom line; "As you start to link the predictive nature of customer demand all the way through your stock levels in the restaurant and the kitchen, you can almost flex it back down through the supply chain."
Liad Agmon, co-founder and CEO of Dynamic Yield, added: “We started Dynamic Yield seven years ago with the premise that customer-centric brands must make personalization a core activity.”
“We’re thrilled to be joining an iconic global brand such as McDonald’s and are excited to innovate in ways that have a real impact on people’s daily lives.”
McDonald’s recent advancements in the tech space – including the development of McDonald’s Global Mobile App, Mobile Order and Pay, indoor and outdoor digital menu boards and self-order kiosks – have transformed customer experiences in and around its restaurants, by giving customers more ways to pay and personalize their orders to meet their needs.
Make no mistake, it's all, ai, predictive analytics, personalization, big data, demand sensing etc., beginning to disrupt, or rather, improve the efficiency of the technology-based global supply chain.
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