IBM and MasterCard on Wednesday (16 March 2016) announced their partnership to offer smaller businesses a big data solution.
The solution-which integrates IBM Watson Analytics with insights based MasterCard transaction data through MasterCard Advisors Local Market Intelligence-will provide smaller merchants with real-time, analytics-based market insights on revenue, market share, demographics of customers and competitors across multiple locations.
"There is an increasing wealth of data today that merchants can leverage to better understand their market and consumers. However, smaller merchants often don't have the resources to maximise the insights. That's the value of this platform turning Big Data into smarter data that is easily accessible and actionable," said Eric Schneider, senior vice president of MasterCard Advisors.
Businesses that accepts MasterCard this year will be able to access this new offering upon subscription.
"We are thrilled to be working hand in hand with MasterCard to help smaller merchants understand their business and competition better, and increase the strength and value of their customer relationships," said Yashesh Kampani, financial services sector leader of IBM in ASEAN. "Through this new service, merchants will discover just how easy leveraging Big Data can actually be with the analytical tools that IBM and MasterCard are making available."
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