Visa And Analytics Partners have partnered to provide artificial intelligence (AI)-driven data analytics designed to help marketers and brands optimize their marketing spend.
The collaboration brings together Visa’s merchant relationships, consumer spending insights and Analytic Partners’ commerce decisioning platform, the companies announced Wednesday (Oct. 16). press release.
“The volume of data available to retailers can be overwhelming, and if they don’t get it right, it’s a missed growth opportunity. » Jenni Mundyglobal head of merchant sales and acquiring at Visa, said in the release. “By combining our scale and knowledge with Analytic Partners’ deep expertise in Business Analysiswe will enable our clients to be more successful in their industries.
The companies will launch their partnership in the United States and then expand it globally, according to the release.
They have also made exclusivity commitments for other merchant and brand marketing spend optimization offerings and services and plan to collaborate to develop new and improved analytics solutions, according to the release.
“Commercial Analytics helps marketers and brands understand which consumer and business levers to use, so they can generate more actionable growth opportunities.” Nancy SmithCEO of Analytic Partners, said in the release. “This can ultimately improve their ability to build greater loyalty and attract new customers.”
Powered by AI data mininga technology at the intersection of machine learning and big data analytics, is reshaping industries and driving decision-making across the business landscape, PYMNTS reported in September.
Companies use these techniques to gain a competitive advantage in areas ranging from predicting consumer behavior to optimizing supply chains.
In another separate deployment of these techniques, Google said in August that it would roll out new AI-based tools across its Merchant Center in time to help retailers sell during the holiday season. These tools include new knowledge and updates to Shopping ads.
In June, Intuitionthe creator of TurboTax, Credit karma, Quick Books And Mailchimpannounced that it will preview a new AI system designed to help businesses increase revenue with smarter solutions. marketing. The system is intended to proactively give marketers opportunities to win more business by recommending optimal times to target customers and generating personalized content.
