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P. 53
Education
invest in technologies and operational improvements
that will help them to offer customers personalized
services and increase customer loyalty."
Analytics for account retention
Data parsing methodologies used by ISOs and MLSs
likely differ from those used by Tier One retailers,
advertising agencies and consumer brands. Aggregate
models rely on algorithms and trending analysis.
MLSs generally are closer to their customers and
track behavior patterns through a combination of
customer relationship management (CRM) software
and personal interaction.
Forum member Dee Malik wrote, "Although my
preferred processor [offers] some great tools, I don't
think I have a large enough pool of merchants to
really utilize analytics very well, at the aggregate
level. However, to some degree you read about how it
helps others with understanding the size of merchants,
for instance, that are most beneficial to them, etc.
Therefore, to some degree we all use analytics."
Analytics for risk management
Clearent wrote, "I think the role varies by where you
are in the payment ecosystem. For example, an ISA
or MLS would and should use analytics to define
merchants at risk, high-profit merchants, low-profit
merchants and even merchants with higher than
average interchange costs. Along with defining these,
good analytics should provide enough information to
tell them why they fall into these categories."
Forum member ber added, "I use my CRM to track
the source of business, the quality of the business I
received from each source/campaign and timeline for
deals from each source. It helps me better know where
to spend my time and resources."
Analytics for security management
In addition to the valuable information that can be
derived from CRM and transactional data, analytics
can be used to analyze and protect an organization's
information technology (IT) infrastructure.
"We implemented a commercial big data solution
initially to analyze and manage IT data security,"
www.paymentlogistics.com wrote. "We've been
slowly using the solution to move toward analytics of
merchant data. It's exciting, what a powerful big data
tool can do, but it does take time to implement and
refine."
Analytics for marketing
IBM's description of data analysis by chief marketing
officers sounds remarkably similar to MLS standard
operating procedure:
"Marketers can now use data to shape everything from
53
invest in technologies and operational improvements
that will help them to offer customers personalized
services and increase customer loyalty."
Analytics for account retention
Data parsing methodologies used by ISOs and MLSs
likely differ from those used by Tier One retailers,
advertising agencies and consumer brands. Aggregate
models rely on algorithms and trending analysis.
MLSs generally are closer to their customers and
track behavior patterns through a combination of
customer relationship management (CRM) software
and personal interaction.
Forum member Dee Malik wrote, "Although my
preferred processor [offers] some great tools, I don't
think I have a large enough pool of merchants to
really utilize analytics very well, at the aggregate
level. However, to some degree you read about how it
helps others with understanding the size of merchants,
for instance, that are most beneficial to them, etc.
Therefore, to some degree we all use analytics."
Analytics for risk management
Clearent wrote, "I think the role varies by where you
are in the payment ecosystem. For example, an ISA
or MLS would and should use analytics to define
merchants at risk, high-profit merchants, low-profit
merchants and even merchants with higher than
average interchange costs. Along with defining these,
good analytics should provide enough information to
tell them why they fall into these categories."
Forum member ber added, "I use my CRM to track
the source of business, the quality of the business I
received from each source/campaign and timeline for
deals from each source. It helps me better know where
to spend my time and resources."
Analytics for security management
In addition to the valuable information that can be
derived from CRM and transactional data, analytics
can be used to analyze and protect an organization's
information technology (IT) infrastructure.
"We implemented a commercial big data solution
initially to analyze and manage IT data security,"
www.paymentlogistics.com wrote. "We've been
slowly using the solution to move toward analytics of
merchant data. It's exciting, what a powerful big data
tool can do, but it does take time to implement and
refine."
Analytics for marketing
IBM's description of data analysis by chief marketing
officers sounds remarkably similar to MLS standard
operating procedure:
"Marketers can now use data to shape everything from
53
