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“Data science begins with data. Nothing gets built without data. Data science continues with science. Accurate, persuasive and effective prediction requires patterns. The process of discovering that pattern is science. Any product worth building requires a reliable pattern to exist in the data.”
– Christopher Berry, co-founder and chief science officer of Authintic, in his article on recommendation engines in the current issue of Analytics.
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Special ArticlesStudy: Top CPOs drive higher profit margins
IBM recently released a study that indicates companies with high-performing procurement organizations are driving better bottom line results. According to the study, these organizations report profit margins of 7.12 percent as compared to just 5.83 percent for companies with low-performing procurement organizations.
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Special ArticlesRetail stores set for digital makeover
When shopping in a store with mobile-equipped store associates, 65 percent of U.S. shoppers and 75 percent of European shoppers expect the associates to be able to check product pricing on that mobile device, according to new Forrester data based on a survey of more than 4,000 U.S. and 13,000 EU respondents. Additionally, 38 percent and 60 percent, respectively, expect the associate to use her mobile device to answer technical questions about a product.
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Industry NewsShopperTrak acquires interior analytics provider RapidBlue
ShopperTrak, the world’s largest counter and analyser of retail foot traffic, has aquired RapidBlue Solutions Oy, a leading European provider of retail data and analytics.
Read More
Saturday, 16 June 2012 00:00 | Last Updated on Sunday, 17 June 2012 01:12 | 
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Headlines
Verisk Analytics to acquire Aspect Loss Prevention, enhancing retail loss prevention
Verisk Analytics, Inc., a leading source of information about risk, has signed an agreement to acquire Minneapolis-based Aspect Loss Prevention, a leading provider of loss prevention software and analytic solutions to the retail, entertainment and food industries.
Throughout the United States and parts of Europe and Asia, Aspect has saved customers significant amounts of money attributed to internal theft through its state-of-the-art exception-based reporting and analytic techniques.
David Shillingford, president of Verisk Crime Analytics, said, "The acquisition will enhance the analytical tools available to retailers in Verisk's national crime databases, such as LERPnet [Law Enforcement Retail Partnership Network] and CargoNet, our national information-sharing system to combat cargo crime."
"We're thrilled to be joining a company with such a successful track record in using data management and advanced analytics to help entire industries better understand risk and reduce fraud," said David Duhaime, CEO of Aspect Loss Prevention.
The net purchase price is $8 million. The transaction is expected to close in June 2012 and is expected to be neutral to adjusted EPS in 2012.
David Duhaime, who has headed Aspect Loss Prevention since 1998, will continue in that role and will lead the retail loss prevention operations of Verisk Crime Analytics.