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TSYS Merchant Solutions. "Providing time insight allowing them What makes data big?
these analytics to our customers to better connect with their
gives them data they can turn into consumers through highly Nobody can say for certain when or
action to improve their bottom lines." relevant products, offers and where it originated, but the term "big
services," said Gary Kearns,
Pivotal Payments, a Melville, N.Y.- Executive Vice President at data" has created signifcant buzz in
based ISO, tapped Womply to MasterCard Advisors. A division the marketplace over the past few
support a similar product that it calls of MasterCard Worldwide, years. Data, of course, has always
Pivotal Merchant Insights. Pivotal MasterCard Advisors boasts been a staple of sales and marketing.
also uses Womply for Loyalty Cloud, one of the largest sources of So what makes big data big?
a loyalty and customer engagement aggregated and anonymous
platform. That product was designed transaction information in the
to help merchants identify their best world. In 2013, the company According to The Retailer's Guide to
customers, rank them according to struck a deal with big data Big Data, an infographic produced
spend and offer rewards for their analytics firm Mu Sigma Inc. to by Monetate, a marketing software
patronage, stated Jeremy Richardson, help it develop new analytics- company, data "didn't really get 'big'
Womply's co-founder. based products for businesses of until an explosion in smartphone use
all sizes.
"We provide merchants with and social media addiction, resulting
powerful analytics and solutions to Demand for two-way relation- in the need for more agile, relevant
help them improve their business," ships marketing,"
Richardson said. In September 2013,
Womply was used by over 30,000 New and better analytics will be Here are some data points for
merchants that collectively rang up especially critical for capturing perspective:
over $400 million in sales, he noted. loyalty and sales among the
millennial generation, often
As these companies demonstrate, defined as individuals from 18 • 90 percent of the world's data
the potential for making strides to 34 years of age. The first all- has been created in the past
with sophisticated analytical tools digital generation, and extremely two years.
has not been lost on merchant social, millennials are all about
acquirers and their partners. "We personalization. (For example, • 87 percent of the world's
truly feel that the evolving role of one out of three sport at least one population (6 billion people)
the successful acquirer includes tattoo, according to one study.) have mobile devices.
better data analytics, which in turn,
creates greater visibility for the ISO The Boston Consulting Group
and allows them the opportunity estimated millennials account for • More than 1 billion people are
to match appropriate value-added $1.3 trillion in annual spending, on Facebook, more than half of
products on a merchant-specific and that total is expected to whom use mobile devices to
basis," said Todd Linden, Executive multiply as these young adults log in.
Vice President and Chief Operating mature. Millennials do few
Officer of Merchants' Choice Payment things the way their elders • 84 million people use Twiter
Solutions. do. "Millennials expect a two-
way, mutual relationship with to send 400 million tweets a
Merchants' Choice, which provides companies and their brands," day.
back-end processing support for BCG observed in a recent paper,
ISOs and merchants, revealed How Millennials are Changing • In 2012, 2.7 zetabytes of
in November 2013 that it was the Face of Marketing Forever. information were accessible
working with the data analytics "The Internet, social media, and via the web; by 2015 that
firm Tranzlogic. California-based mobile devices greatly amplify number is expected to reach
Tranzlogic developed a platform millennials' opinions and
that enables merchants to mine accelerate their impact." 7.9 zetabytes, which would
credit card transaction data for equal 18 Libraries of Congress.
demographic, economic, geographic A poll of millennials by BCG
and psychographic patterns that they revealed that 52 percent use • Data generated by companies
can leverage to support dynamic social media to "like" brands, is expected to grow 800
marketing, pricing and inventory compared with 33 percent of percent over the next fve
decisions. baby boomers. Millennials also
are twice as likely to use mobile years; 80 percent of it will be in
"The data analytics market is rapidly devices to check prices and an unstructured form.
growing as customers seek real- product information, or to shop
for sales.
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40
40
TSYS Merchant Solutions. "Providing time insight allowing them What makes data big?
these analytics to our customers to better connect with their
gives them data they can turn into consumers through highly Nobody can say for certain when or
action to improve their bottom lines." relevant products, offers and where it originated, but the term "big
services," said Gary Kearns,
Pivotal Payments, a Melville, N.Y.- Executive Vice President at data" has created signifcant buzz in
based ISO, tapped Womply to MasterCard Advisors. A division the marketplace over the past few
support a similar product that it calls of MasterCard Worldwide, years. Data, of course, has always
Pivotal Merchant Insights. Pivotal MasterCard Advisors boasts been a staple of sales and marketing.
also uses Womply for Loyalty Cloud, one of the largest sources of So what makes big data big?
a loyalty and customer engagement aggregated and anonymous
platform. That product was designed transaction information in the
to help merchants identify their best world. In 2013, the company According to The Retailer's Guide to
customers, rank them according to struck a deal with big data Big Data, an infographic produced
spend and offer rewards for their analytics firm Mu Sigma Inc. to by Monetate, a marketing software
patronage, stated Jeremy Richardson, help it develop new analytics- company, data "didn't really get 'big'
Womply's co-founder. based products for businesses of until an explosion in smartphone use
all sizes.
"We provide merchants with and social media addiction, resulting
powerful analytics and solutions to Demand for two-way relation- in the need for more agile, relevant
help them improve their business," ships marketing,"
Richardson said. In September 2013,
Womply was used by over 30,000 New and better analytics will be Here are some data points for
merchants that collectively rang up especially critical for capturing perspective:
over $400 million in sales, he noted. loyalty and sales among the
millennial generation, often
As these companies demonstrate, defined as individuals from 18 • 90 percent of the world's data
the potential for making strides to 34 years of age. The first all- has been created in the past
with sophisticated analytical tools digital generation, and extremely two years.
has not been lost on merchant social, millennials are all about
acquirers and their partners. "We personalization. (For example, • 87 percent of the world's
truly feel that the evolving role of one out of three sport at least one population (6 billion people)
the successful acquirer includes tattoo, according to one study.) have mobile devices.
better data analytics, which in turn,
creates greater visibility for the ISO The Boston Consulting Group
and allows them the opportunity estimated millennials account for • More than 1 billion people are
to match appropriate value-added $1.3 trillion in annual spending, on Facebook, more than half of
products on a merchant-specific and that total is expected to whom use mobile devices to
basis," said Todd Linden, Executive multiply as these young adults log in.
Vice President and Chief Operating mature. Millennials do few
Officer of Merchants' Choice Payment things the way their elders • 84 million people use Twiter
Solutions. do. "Millennials expect a two-
way, mutual relationship with to send 400 million tweets a
Merchants' Choice, which provides companies and their brands," day.
back-end processing support for BCG observed in a recent paper,
ISOs and merchants, revealed How Millennials are Changing • In 2012, 2.7 zetabytes of
in November 2013 that it was the Face of Marketing Forever. information were accessible
working with the data analytics "The Internet, social media, and via the web; by 2015 that
firm Tranzlogic. California-based mobile devices greatly amplify number is expected to reach
Tranzlogic developed a platform millennials' opinions and
that enables merchants to mine accelerate their impact." 7.9 zetabytes, which would
credit card transaction data for equal 18 Libraries of Congress.
demographic, economic, geographic A poll of millennials by BCG
and psychographic patterns that they revealed that 52 percent use • Data generated by companies
can leverage to support dynamic social media to "like" brands, is expected to grow 800
marketing, pricing and inventory compared with 33 percent of percent over the next fve
decisions. baby boomers. Millennials also
are twice as likely to use mobile years; 80 percent of it will be in
"The data analytics market is rapidly devices to check prices and an unstructured form.
growing as customers seek real- product information, or to shop
for sales.
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40
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