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Visa Viewpoints blog: Unleashing the Power of Analytics

At the IOD conference last month, Visa, Inc. received the IOD 2010 Innovation Award in recognition of "Visa's leadership in using cutting-edge information technology and real-time data analytics to drive growth, prevent fraud, and improve the consumer payment experience."

James Wallis, Vice President of IBM’s Global Payments Industry, has a guest blog post on the Visa Viewpoints blog (Unleashing the Power of Analytics), where he shares his view on Visa's use of technology and the importance of embracing analytics.

Being cited as the winner of this award says a lot about what Visa is doing right in the industry. Visa has successfully set itself apart from competitors as a leading innovator of payments— for its mastery of information in real-time. IBM’s own market research has found that excelling at client-service is one of the only clear paths to profitability in today’s competitive marketplace. By effectively using analytics, Visa is able to do just this by providing value-added services for merchant banks, retailers and cardholders alike.

And Visa is not alone in embracing analytics. Hundreds of companies around the world, across dozens of different industries, are embracing the power of analytics to gain business insight from their data. In fact, IBM is making its own big bet on the use of analytics to transform businesses and industries. To date, IBM has invested more than $14 billion in business analytics which includes 24 acquisitions, as well as organic innovation.

Link:  Visa Viewpoints blog: Unleashing the Power of Analytics