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FOR IMMEDIATE RELEASE
franalytics™ Brings Attention to the Most Important and Under-Utilized Asset in Any Franchise System.
Franchise Industry Veteran Launches New Firm to Help Franchisors Effectively Utilize Data.
ANN ARBOR, Mich. (May 11, 2015) — In today’s highly competitive, unforgiving business environment, there is no escaping the term “data.” However, the mere collection of data and its presence within a franchise system does not ensure organizational success or prosperity. Rather, it’s how franchise management teams utilize data and weave its power into the fabric of their franchise systems that will provide competitive advantage.
Recognizing the challenges that surround the effective use of data, franchising veteran Taylor Bond is announcing the launch of franalytics™. The franchise-centric consulting firm helps management teams adopt data analytic thinking and leverage its potential to create an organizational environment in which franchise systems thrive and prosper.
“We’ve seen big box retailers who were leaders in their space crumble due to their failure to embrace data, while others used data to create new opportunities to dominate the market and drown out the competition,” said Bond. “Taking a look at the franchise industry, there are countless opportunities for franchisors and franchisees to become far more aggressive at mining their existing databases in an effort to accelerate unit growth, drive sales and profits, improve marketing, and strengthen customer relationships.”
Recruiting the right franchise owner is a concern for just about every franchising executive in the industry. Franchisee turnover is expensive and detrimental to a franchise system. Often, the data required to build a model that uncovers those characteristics shared by the best franchisees in a system are readily available, but many franchisors don’t know how to take advantage of this information. franalytics™ is helping franchisors tackle this and other key issues that can hinder franchise success, including emphasizing the importance of franchisees knowing their numbers, sales forecasting, and using data to initiate competitive advantages.
“I’ve always believed your gut is better with data. Management teams that embrace data analytic thinking will set themselves apart from the competition. Those that don’t are at risk,” added Bond. “I want to share my experiences as a franchisor, franchisee, statistician, and software designer with other franchisors and franchisees so that they can stay ahead of the game, thrive, and prosper.”
Bond earned his undergraduate and Master’s degrees in Mathematics and Statistics at the University of Michigan. With nearly 30 years of franchise experience, Bond has held several executive positions with nationally recognized franchise brands including the roles of President of Computer Renaissance, CEO of Children’s Orchard, and National Director of Market Research for Domino’s Pizza. He is also the founder of Park ‘n Party®, a national web-based parking reservation system for major events such as NCAA football games, the NHL Winter Classic, and nationally recognized Art Fairs.
franalytics™ helps franchise management teams embrace data-analytic thinking and create an organizational environment in which data science, its practitioners, franchisees, their customers, and the franchise system can thrive and prosper in a 21st century marketplace. With franalytics™ franchisors will more effectively collect, analyze, and use data to grow unit count, drive sales and profits, and increase franchisee satisfaction in their systems. For more information about franalytics™, visit www.franalyticsgroup.com.