McDonald’s Acquires Machine Learning Firm
Many companies have been tracking our personal data since long and now the world’s biggest fast-food chain is hopping on the same. McDonald’s announced on 25th March 2019 that it has acquired a Machine Learning firm named Dynamic Yield. It provides retailers with algorithmically driven technology.
So when you add an item to your cart, it will be the technology that will push you about what other customers bought. The deal is valued in the hundreds of millions of dollar, which is reportedly $300 million. This is said to be the company’s largest deal since the 1999 acquisition of Boston Market.
Currently, McDonald’s serves 68 million customers every single day out of which majority of the purchases is made at the drive-thru window. And that is where they will deploy the technology first. Through technology, they will be able to adjust trending menu items and other things.
Websites like Amazon are also working in this way. During the press release, it said that the new technology will suggest and display items to attract customers and get them what they want.
Before the decision, McDonald’s did several tests on the techniques in 2018 which came out to be positive. This approach may also help in upscaling sales.
Not only this, but McDonald’s has also pushed its stores to support mobile ordering through the application and self-ordering kiosks. Through these things, it seems like McDonald’s is undergoing through a major modernization.