McDonald's to acquire 'decision logic' pioneers Dynamic Yield

McDonald's to acquire 'decision logic' pioneers Dynamic Yield

Do big data and fast food go together?

Commenting on the acquisition, Dynamic Yield CEO Liad Agmon, said in a message: "Today we are thrilled to announce McDonald's Corporation, the leading global foodservice retailer, has signed an agreement to acquire Dynamic Yield Ltd. - the leading AI-powered Personalization Anywhere™ platform". It is also said to be the fast food chain's biggest acquisition in the past two decades. The company began testing the technology a year ago, and will bring it to more locations throughout 2019. It will show food based on the time of the day and will account for items based on the weather, current restaurant traffic and the current "trending" menu items. At the end of 2018, it had deployed self-ordering kiosks to about 17,000 restaurants, brought digital menu boards to 21,000 restaurants and added its order and pay app to 22,000 restaurants, according to the company's annual report. Over 92 percent of McDonald's restaurants worldwide are owned and operated by independent local business men and women. He said McDonald's is expanding the role that technology will play in McDonald's future "and the speed with which we'll be able to implement our vision of creating more personalised experiences for our customers".

Dynamic Yield is known to work with various brands in e-commerce, travel, finance as well as media to create an Amazon style personalized experience.

Dynamic Yield's Tel Aviv office is at 8 Eliezer Kaplan Street, a short hop from the IDF headquarters.

The acquisition builds on McDonald's recent advancements in the tech space to enhance the customer experience. For example, the technology will be used in drive-thru displays and mobile app interfaces to give customers a custom dining experience via item add-on suggestions.

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"Technology is a critical element of our velocity growth plan", Mr Easterbrook said in a statement.

The company is traded at a market cap of about 142 billion USA dollars on the New York Stock Exchange (NYSE).

Chicago-based McDonald's announced Monday that it plans to acquire Dynamic Yield, a company based in NY and Tel Aviv that specializes in decision logic technology.

McDonald's tested Dynamic Yield's technology in several of its restaurants last year and will roll it out to drive-thrus across the country this year, then in worldwide markets.

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