First Data has chosen to partner with Factual to enhance its Insightics solution for small and medium sized businesses. Insightics is an innovative cloud-based software that unlocks the power of big data behind payment transactions to give SMB merchants the ability to monitor key business metrics and better understand their customers. First Data already evaluates a vast amount of data, but needed more in depth data for additional attributes and intelligence. This collaboration goes beyond transactional processing and produces advanced business and consumer insights that help merchants to grow their businesses.
It’s a big deal for small businesses to get actionable insights about their business. How many new versus repeat customers they have been getting the past few weeks, is an important thing to know. SMBs may also want to know which part of the local neighborhood customers come from and how far are customers willing to travel to come to their store. If the SMB is having a good or bad month, is it just that SMB or all similar businesses in the area? Delivering such capabilities requires all the horsepower of state of the art big data analytics presented in an extremely easy to understand manner to the merchant. That’s what First Data Insightics does.