GAINESVILLE & BOCA RATON, Fla.--(BUSINESS WIRE)--The Institute for Commercialization of Public Research (the Institute) announced today that it has finalized a funding agreement with Coefficient (DBA: Tandem), providers of automated customer intelligence that allows companies to put consumers at the center of their business decisions. The Institute works with Florida’s research universities and institutions to support new company creation and job growth, and bridges early funding gaps enabling them to attract additional private investment capital.
With the proliferation of social media and consumer trends changing at unprecedented rates, it is challenging for companies to gauge the return on investment of their marketing efforts. Companies must create more customer value from research and consumer data, and the Tandem application, based on technology developed at the University of Florida, allows them to group their audiences into consumer segments and monitor changes and growth in real time.
“Overloading companies with large amounts of information and infinite flexibility does more harm than good,” said Issac Moredock, Tandem CEO. “Using information to make better decisions must go beyond ‘what’ customers do, companies need to understand ‘why’. Knowing why your customers buy will keep you ahead of the competition. Our easy-to-use web application brings together business intelligence and consumer insights to create meaningful insights that are actionable and easy to understand. To get started it’s as seamless as linking your shopping cart to our system.”
“The Institute supports promising young companies that are developing innovative technologies and products that truly change how we live, work and play,” said Jamie Grooms, CEO of the Institute. “Tandem is combining in-store location tracking technology and data collection with real-time dissemination and sharing to improve how businesses gauge and deploy their marketing efforts and build authentic brands that consumers trust.”
About the Institute
Formed by the Florida Legislature in 2007, the Florida Institute for the Commercialization of Public Research is a non-profit organization that works collaboratively with the technology licensing and commercialization offices of Florida’s state universities and private research institutions to leverage a $2B+ research base and form investable companies that create clean jobs in new industries that are driving the global economy. Over 100 new company projects have been identified across the state, and the Institute deploys company building and funding programs to promising Florida startups. Thirty-four companies have been funded since the program’s inception.
Tandem is an Orlando based company with technology developed at the University of Florida which combines business intelligence with consumer insights, turning static consumer segmentation and shopper marketing studies into a web application that continuously tracks changes in consumer segments including, customer lifetime value and in-store consumer location.