Today In Data

Today In Data: Innovative Solutions In Search Of Problems

Sometimes a problem that needs to be solved is pretty obvious: A hurricane is bearing down on the coast, and there are solutions needed to minimize the damage. But sometimes, innovators get the process backwards, and find they have a great solution, but not a problem to go with it. It’s a situation cryptocurrency has faced recently, as investors have suddenly woken up to wondering what exactly blockchain currencies are really good for. Mobile wallets continue to struggle in the U.S. as consumers struggle to find a reason to use them, as online and omnichannel purchases are growing worldwide. Consumers don’t always just need solutions, even in high-interest areas like privacy, security and flexibility – sometimes they also need a clearer picture of the problem they are solving.

Data

5.8 billion: The number of search queries DuckDuckGo has seen in 2017 so far; Google sees 3.4 billion per day.

$700 million: The current estimates for Hurricane Florence’s net negative impact on the economy, excluding insurance claims.

80 percent: The amount of value some coins have lost as a result of the recent crypto crash.

65 percent: Share of American consumers who don’t see a reason to pay with a mobile wallet.

14 percent: Share of global retail sales expected to be powered by online payments by 2021.

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Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. Check out the latest PYMNTS Credit Union Innovation Index

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