McDonald’s Is Buying Dynamic Yield To Increase Customer Personalization

McDonald's to buy Israel's Dynamic Yield

"Our acquisition by McDonald's, one of the most iconic and beloved brands of our time, is truly an endorsement of that vision".

The fast-food giant announced Monday that it has an agreement to acquire Dynamic Yield, a company considered a leader in personalization and "decision logic technology". Testing of the tech in 2018 was a success, so this year customers in the USA can expect more bespoke menus.

McDonalds explained that the new technology will be used for creating personalized menus for its Drive-Thru restaurants, stating that those menus will change in relation to the weather, trending menu items and traffic conditions.

McDonald's recent advancements in the tech space - including the development of McDonald's Global Mobile App, Mobile Order and Pay, indoor and outdoor digital menu boards and self-order kiosks - have transformed customer experiences in and around its restaurants, by giving customers more ways to pay and personalize their orders to meet their needs.

McDonald's said the deal will make it the sole owner of the company. This is not only a smart strategy for selling larger orders on the spot, but could also prove as a way to retain existing customers looking to try new items. The decision technology can also instantly suggest and display additional items to a customer's order based on their current selections.

Steve Easterbrook, McDonald's President and CEO claims that technology is an important part of their Velocity Growth Plan.

The company plans to roll out the technology to its USA drive-thrus first and then take it internationally. Dynamic Yield has 180 employees in six locations worldwide including Tel Aviv and its corporate headquarters in NY, with most employees based in Israel. McDonald's already has started migrating to digital ordering kiosks, and if this move works as well as the test markets would indicate, then McDonald's very well may become the king of artificial intelligence within the fast-food industry, along with its 37,000-plus locations.

The acquisition will fast-track McDonald's digital transformation but it doesn't mean the company is overthinking things.

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

Founded in 2011, Dynamic Yield specializes in "personalization" software, with customers including Ikea, Urban Outfitters, AutoNation and American Greetings. Based in Tel Aviv and NY, its AI-powered Personalization Anywhere platform delivers individualized experiences at customer touchpoints such as call centers and apps.

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