gives the power of data to its clients · BBVA Data & Analytics and Globant developed a big data...
Transcript of gives the power of data to its clients · BBVA Data & Analytics and Globant developed a big data...
gives the power of data to its clients
The financial entity turns payments at points of
sale into key information so that small and
medium businesses can increase their
profitability and improve their performance.
BBVA Data & Analytics and Globant developed a big data
platform that allows the bank's customers to access key
information about their business, and their consumers
drawn from the data stored at POS terminals. This way, the
financial institution builds customer loyalty and, at the
same time, clients improve their performance in the market.
It was believed that the point-of-sale (POS) terminal, that is an elec-
tronic device used to process card payments at retail locations
served only to generate an accurate record of such operations.
But, BBVA Data & Analytics, a company of BBVA financial group,
which o�ers business intelligence and data analysis services,
understood its true potential.
Day by day, that small device generates an enormous amount of
data with the potential of o�ering a more complete business
vision. At the same time, the sum of POS terminals generates a
huge amount of data that could be used used to perform a deep
analysis of what happens in a particular area, such as a particular
neighborhood or in a specific market.
“BBVA's Innovation Area discovered that card
payment data could add value to the shopkeepers'
activity and help them better understand their
performance, the typology of their customers and
their competition environment”, said Juan Carlos
Plaza Alba, Big Data Product Manager at BBVA
Data & Analytics and Project Leader.
Globant has been working with BBVA Data &
Analytics on projects related to big data and
innovation for three years.
Getting to know clients and building loyalty
For this particular project, BBVA Data & Analytics built the analytics
framework and then completed the development of Commerce 360
in conjunction with Globant. Commerce 360 is a big data platform that
enable clients to take advantage of the extensive source of information
that are POS terminals. This platform allows retailers to access sales
information and improve the decision-making process when it comes
to growing their business.
The first prototype of Commerce 360 was completed in just three
months. "We wanted to allow real users to test the tool right away in
order to get their feedback as soon as possible and being able to
incorporate it into the next development stages," Plaza Alba explained.
Compare themselves with their sector and get personalized market
data and analytics.
Understand what days and times are better for sales. This helps the storekeeper to generate promotions to increase sales at specific
times, or to adjust opening times.
Analyze customers’ loyalty and know how often do them visit the
store, this data is useful to identify the most valuable clients and
build specific proposals for them.
Know customers in depth. Segmenting consumers by place of resi-
dence, gender or age provides the opportunity to o�er them what
they like, and also to keep up with trends.
Accessing to such information is a fast track to increase profitability.
What can a Commerce 360 customer do?
The power of big data
Commerce 360 exploits the power of big data, that is, the ability to obtain
valuable information from the enormous volumes of data generated daily.
This platform allows businesses to improve their performance and positions
BBVA as a leader in digital transformation, migrating from being a traditional
bank to a real service provider.
Regarding the regional scope of the product, it has been working since 2016
in Spain with a PRO version. Furthermore, an expansion with a pilot plan for
Latin America is currently underway, starting in Mexico with a reduced project
that was launched in early 2017.
“BBVA is really innovating in the market by opening its data for the benefit of a
business community," concluded Sabina Schneider, Discovery Partner at
Globant. and added "We hope this is the awakening for a new model of taking
advantage of the very high volume of data that is generated daily”.
Commerce 360 is a big data platform that allows small and medium
companies to access analytics about their business to improve the
decision making process when it comes to growing their business.
“We discovered the value that card payment data could bring to
retailers’ to help them better understand their performance, the
typology of their customers and their competitive environment."
Juan Carlos Plaza Alba, Big Data product manager at BBVA Data &
Analytics and project leader, explained.
Weekly sales analysis.
Customers’ origin analysis.
Ticket average amount analysis.
Market share analysis.
Customer loyalty analysis.
Some resources to see how Commerce 360 works: