Cedric Lourie, Vice President of Digital Development at FreedomPay outlines the value of data-driven insights in enhancing customer relationships in a new interview.
We sit in a very unique space, in the middle of the entire payment ecosystem. This lends itself to understanding a lot about the consumers: what they’re buying, what they’re not buying, how they pay, and how they like to transact.
Using our Business Intelligence (BI) platform, we can help merchants to understand what those trends are, for a variety of reasons; whether it’s enablement of new functionality, or understanding consumer trends to offer an enhanced consumer experience. Perhaps it’s the beginning of a loyalty at play where merchants want to use consumer segmentation to understand very niche types of consumers, so that they can better cater to them.
Our Business Intelligence platform allows merchants to create and study any type of consumer segment. Maybe it’s their highest spenders, the consumer spending on certain products, or consumers they haven’t seen in a long time. The consumer segmentation engine within our BI platform allows merchants to generate these, so they can take action to drive their behavior and enhance their overall consumer experience.
Thank you, Cedric!
Take your understanding of your customers’ preferences and requirements to the Next Level with FreedomPay’s Business Intelligence platform.