Solution Portfolio - Page 106



Goals and objectives are meaningless unless the merchant collects the right level
of data to evaluate, benchmarks success and monitors progress continuously.
instance, a large European airline conrms that “we
monitor specic KPIs (such as credit card approval
rates) in real-time via our own internal dashboard”.
Data analytics
David Redmond, Payments Manager at Inditex
conrmed that payment analytics is the next area of
focus for leading merchants: “ there is so much
potential within payment analytics and merchants
have only scratched the surface”.
There is a lot of hype around big data analytics, machine learning, articial
intelligence. Merchant interviews highlighted the importance of insights that a careful
and painstaking analysis of transaction data can reveal, rather than allocating vast
resources to analysis of all types of data. Payments Managers we spoke to say that
the smart way to approach this is to identify what data sets should be prioritised over
others and what measures are more meaningful than others.
For example, some merchants indicated that they started analysing authorisation
response codes, success rate by card issuer and/or by country of issuance, etc. as a
basis to identify internal improvement opportunities or priority topics to address with
other stakeholders including card issuers.
26
The 7 Habits Of Successful “New” Payments Leaders
Best practices and insights by industry front runner

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