First Data Corporation, a payment technology and services solutions provider announced earlier this week that it had debuted new cloud-based software that uses big data behind payment transactions to help small to medium sized businesses (SMBs) monitor key business metrics affecting their company. Additionally, it ensures SMBs understand their customers and create strong loyalty programs.
Called Insightics, the software is expected to be a huge boon to businesses, according to company executives.
First Data’s Senior Vice President of Information and Analytics Solutions Krish Mantripragada explained that the organization is using big data to help street merchants grow their businesses.
“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,” Mantripragada said in the release. “Insightics is an instant on, incredibly powerful, yet simple-to-use solution that all merchants can use to make informed and timely decisions to grow their businesses.”
Company president, Guy Chiarello agreed, and said in the release that Insightics “takes advantage of our unique position and scale to deliver a valuable solution to small and medium-sized businesses.”
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