About
A first in market online big data tool giving business the edge through powerful transactional analytics
Innovation presentation
Exciting new online big data tool for businesses, small, medium or large!
The emergence of big data has become one of the biggest game-changers for businesses today, yet without an easy way to access this information business owners are simply unable to reap the benefits and risk being left behind by their competitors.
In response to this need, Nedbank has announced a first-in-market data analytics tool, Nedbank Market Edge™, enabling merchants and other businesses to gain business intelligence and valuable insights into client behaviour through big data. Nedbank Market Edge™ seeks to empower Nedbank card-accepting companies to develop informed strategies on the back of their own big data, by utilising a multi-layered, user friendly dashboard that draws data from client’s card transactions.
Nedbank Market Edge is an agile platform that gives CEO's, CFO's, Marketing heads and operations managers invaluable insight into millions of transactions aggregated and displayed in a user-friendly online location. Market Edge is unique in that it aggregates all card transactions for businesses, effectively displacing the need for costly surveys and research, but with a far greater sample size and richer insight.
The tool is in production and is being used effectively to shape strategy and execution with a number of Nedbank's business clients. It changes the game, using transactional data and smart technology to provide value to customers that previously would have no access to this sort of intellectual property at incredibly low prices. Nedbank is able to stand apart from its competitors as the only provider of a solution of this kind, effectively disrupting the card acceptance industry in South Africa.
Uniqueness of the project
Nedbank Market Edge is a custom built, big data platform that packages millions of card transactions into a very user friendly dashboard for its business customers to use. It is a very disruptive innovation in the South African banking industry as no-one else has been able to build a similar tool and take it to the business segment. In this way, it supports our strategy to add strategic value to our business customer base, making them far more sticky for Nedbank and providing a strong sense of innovation from their bank. It provides the user with a number of tabs, ranging from transactional overviews at holding, brand or store level, to share of wallet and client loyalty information. This tool provides businesses with geolocation information about the reach of an outlet into client markets, enabling them to analyse and determine key trends as well as the changes in their client’s behaviour over time, making it easy to develop real-time responses. It also provides a breakdown of clients’ spend patterns, income segmentation, gender and age demographics
