Data + Data = Insights
In data analytics, the combining of disparate data sets can often yield unique and valuable insights. Today we announce Appriss’ acquisition of our portfolio company The Retail Equation; bringing together Appriss’ crime, drug and automotive data assets with TRE’s comprehensive SKU-level, retail transaction database. What new insights can be found to further benefit public safety?
Appriss developed the nation’s first automated victim information and notification system after the 1993 murder of Mary Byron by her former boyfriend and attacker. Since VINE was launched, over 4,000 communities across America have adopted Appriss solutions which also include JusticeXchange (incarcerated persons data), NPLEX (pseudoephedrine sale tracking) and CrashLogic (vehicle crash reports), in addition to other solutions.
The Retail Equation is the leading provider of retail optimization solutions at point-of-return and point-of-sale, with more than 34,000 stores across North America deploying its solutions. The company’s deep roots in predictive analytics help retailers save over $1,000,000,000 annually by preventing fraudulent and abusive returns.
The combination of these varied data assets should lead to new insights into patterns of human behavior. We believe this will translate to greater levels of compliance and cost-savings for government and commercial entities, while improving public safety.
We at Norwest are so excited about the synergy created by this Appriss/TRE merger, that we’ve decided to roll a significant portion of our proceeds into the combined entity. We’re confident that our focus on information services and our “patient capital” view to investing, will lead to outsized returns in this data insights equation. We look forward to working actively with the Appriss management team on the next leg of the journey!