ALPHARETTA, Ga. — PDI has acquired SwiftIQ, a provider of analytics cloud and vendor collaboration software and services. With the acquisition, PDI is positioned to offer convenience retailers the ability to measure return on investment (ROI) and gain actionable insights into programs and promotions, the company said.
Competitive pressure, tight margins, limited visibility and changes in customer behavior can make managing and measuring ROI for sales, loyalty programs and promotions a challenge for convenience retailers and CPG brands. SwiftIQ solves this problem with industry-specific business intelligence tools and the ability to unify disparate data sets, it said. The software mines billions of records, applies machine learning and generates automated insights for brands and retailers.
The addition of SwiftIQ’s analytics cloud with built-in machine learning improves PDI’s data and insights capabilities, the company said. SwiftIQ has processed more than 100 billion receipt-level transaction records, it said.
Adding SwiftIQ’s analytics cloud and AI technology adds more capabilities to the PDI Offer Network that reaches more than 30,000 retail sites.
“Retail analytics are key to our strategy to work with brands and retailers to provide consumers with relevant offers that drive ROI,” said Jamie Hudson, senior vice president of offers and insights for PDI. “SwiftIQ’s analytics cloud is the perfect fit to support the scale of our offer network. This will provide our retail customers and CPG partners actionable insights to improve the effectiveness of their loyalty programs and promotions.”
“We could not be more excited to join PDI and connect transaction and customer data from PDI’s back-office and loyalty solutions,” said Jason Lobel, CEO and co-founder of SwiftIQ. “Together, we are modernizing the way retailers and brands manage promotion spend and strengthening vendor collaboration while bringing end-to-end visibility to retail operations.”
By integrating SwiftIQ’s advanced analytics, PDI can leverage transaction-level data from its back-office and loyalty products to help convenience retailers and CPG brands react and refine their loyalty program and promotion strategies.
“Customers count on PDI to be at the forefront of technology trends and deliver solutions that help them along their digital transformation journey,” said Brandon Logsdon, president and general manager of marketing cloud solutions for PDI. “Adding SwiftIQ’s analytics cloud to our broad solution portfolio will accelerate the pace at which we can turn data into actionable insights for this industry.”
Alpharetta, Ga.-based PDI specializes in enterprise software for convenience retailers and petroleum wholesalers. More than 1,500 customers in more than 200,000 locations worldwide use its ERP, logistics, fuel pricing and marketing cloud solutions to provide insights. PDI also owns and operates the Fuel Rewards loyalty program.
This announcement originally appeared in CSP.
