BriefsMining what you eat?NEWTON UPPER FALLS, Mass.--(BUSINESS WIRE)--July 20, 2001 The Restaurant Data Exchange (RDX) Consortium announced the addition of two nation-wide members - Buca di Beppo and Chevys Fresh Mex(R) - to the newly formed consortium. This marks an important milestone for the consortium in their efforts to create timely peer-to-peer benchmarking and customer purchasing data analysis in the full service dining segment, while helping chains use the data to increase sales and boost profits. During the upcoming months, these new members will participate in an RDX initiative that will measure the performance of a chain's individual units by collecting timely customer purchase data directly from the POS. As a result, Consortium members will gain access to the business intelligence that will help them hone their marketing initiatives and streamline their operations procedures. To obtain this customer purchase information, the RDX Consortium has created a data mining technology that captures POS data and standardizes by product category. Once collected, the data will be sent to the consortium through secure Internet connections for analysis and review. Members will then receive a report that not only analyzes the data gathered in their stores, but also compares it against an aggregate data set culled from competing restaurants in the same dining segment. About the Restaurant Data Exchange Consortium The Restaurant Data Exchange (RDX) Consortium is a newly-formed industry consortium that brings timely, accurate business intelligence to the full-service restaurant sector. In the RDX Consortium, participating restaurants pool transaction-level detail from their POS systems into a common data warehouse secured and maintained by Gazelle Systems. Data specific to a chain or unit is kept anonymous from other participants. This data is regularly analyzed and members of the consortium can select specific reports that benchmark their performance across a variety of dimensions. The Consortium can provide its participants with unique and powerful insights to manage and grow their business, including: menu and pricing trends, consumer and market behaviors, frequency and churn benchmarking, site selection criteria, "shopping cart" purchase behavior, and Revenue management. The Consortium founders include Gazelle Systems, Inc. and Information Resources, Inc. with a research collaboration with The Cornell Center for Hospitality Research. Contact Information Resources, Inc. | Kristine Sundberg, Kristine.sundberg@infores.com |
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