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But there are ways you can turn this byproduct into insight
and actionable strategy, leading to more profit for your
payment processing business. Unleash the power of data
analysis to capitalize on the hidden value in your data.
Data integrity

Before you perform any data analysis, the first and most
important consideration is that the data that is being used
Big data in payment must have integrity. It must be complete and it must be
accurate. If you are unknowingly looking at a subset of
processing: Expensive the data versus a complete set, it can adversely affect the
result of your analysis.

drain or profit center? If you’re analyzing data somewhere other than its source,
you’ll need to be sure that its integrity isn’t disturbed when
you move it from one place to the other. Problems like
By Elaina Smith truncated fields or mismatched data types can undermine
Secure Bancard your analysis before you even start.
Meaningful insight
ransactional data is a natural byproduct of
payment processing. Many businesses do little Now that you’re dealing with a complete and accurate
or nothing with this set of big data because data set, you’re ready to start an analysis with the hope of
T extracting meaningful value from it can be a gaining meaningful insight for your business. First, define
challenge. It can be viewed as an expensive drain on some questions that you’d like for your data to answer,
resources, as data needs to be stored and secured. keeping in mind that you want to let the insight you gain
help you work toward actionable strategy.

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