Company: First Data Corp.
First Data Corp., a global provider of payment technology and services headquartered in Atlanta, created Insightics, a data analytics tool designed to improve merchants' marketing reach and help them better understand their customers.
The Insightics Solution reports on customer trends and creates personalized recommendations for merchants based on payment card transactions. First Data noted that merchants can use the system to identify repeat customers, popular items and location-based data that can be used to create targeted promotions.
"Innovations in tablet, mobile and Cloud technologies have made it possible for processing systems to do more than process payment card transactions and simplify the lives of small to midsized business owners," said Peter Karpas, Senior Vice President and Global Head of Small to Midsized Business (SMB) Product at First Data.
Karpas noted that the Insightics platform is consistent with First Data's vision of facilitating innovation and partnership in the global payments community. He said that the best part of building a platform is that "you don't always know what will happen next." First Data's product development team is conducting field tests and pilots with small-business owners across the United States. The software is compatible with a variety of devices and third-party applications, including First Data's Clover POS tablet solution.
Merchants can log into the Insightics home page for a single access view of key business metrics, including customer loyalty, repeat customer visits, the success and popularity of promotional campaigns, sales revenue models, and some perspective on their sales performance compared with similar businesses. Krish Mantripragada, Senior Vice President of Information and Analytics Solutions said that First Data has made big data analytics accessible and affordable to Main Street merchants. "By analyzing payment, point-of-sale and customer data for every merchant alongside data from millions of other merchants, we are providing an unprecedented level of visibility and insight into customers, sales and related businesses," he said.
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