Use location data to clean and enrich merchant record data
Though extremely valuable, merchant record data is often vague, inconsistent and incomplete making it difficult for analysts to use effectively. Cleaning and enriching with point of interest (POI) data can turn indiscernible transaction data into actionable insights to understand consumer spending, identify potential growth areas for your business, and more.
Enhance the consumer experience
With cleaned and categorized transaction data, financial institutions can make it easier for consumers to understand their own spending or saving patterns, providing cleaner credit card statements so consumers can identify merchants and purchases, and spend less time reconciling expenses.
Drive more targeted marketing campaigns
Adding metadata like location provides more context around transactions, giving businesses a better understanding of customer spending that they can use to deliver more personalized messaging to the right audience at the right time to support customer retention, credit card marketing, and more.
Gain greater insight into business operations
Businesses can get more specifics on operational costs, answering questions like, how much the company spends with a supplier in a specific period or what are the top suppliers being paid by credit card?
Turn transaction data into trustworthy and actionable insights
Learn how Foursquare’s location data can be leveraged for merchant data cleansing to extract valuable insights about your customers and your business.