Method, system, and computer program product for spend mapping tool
a technology of spend mapping and software, applied in the field of financial transaction analysis, can solve the problems of inaccurate and inefficient targeting of business customers, inaccurate and inconvenient use of services and products to businesses, and insufficient specific needs of specific business customers
Inactive Publication Date: 2014-06-12
LIBERTY PEAK VENTURES LLC
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- Summary
- Abstract
- Description
- Claims
- Application Information
AI Technical Summary
Benefits of technology
The tool enables more accurate and efficient marketing, market segmentation, and risk calculation by identifying specific business customer needs, improving advertising targeting and product alignment with appropriate customers and merchants, and enhancing transaction analysis for better market strategy development.
Problems solved by technology
Traditional marketing and industry analysis does not always identify specific needs of specific business customers.
As a result, traditional marketing and segmentation of financial services and products to businesses is not always accurate because it does not effectively identify specific needs of specific groups of business customers.
In addition, traditional advertising of financial services and products to businesses uses a broad approach that inaccurately and inefficiently targets business customers because the advertising does not effectively convey how the financial services and products provide satisfaction of specific business customer needs.
Furthermore, traditional advertising also does not evaluate the effect of advertisements based on industry transactions between targeted markets.
In addition to these problems, conventional financial transaction risk profiling is often inaccurate because it does not take into account transaction risk based on the industries of the respective parties.
Method used
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I. Overview
[0023]A spend mapping tool provides a system, method, and computer program product to analyze business-to-business transactions between a merchant industry group and a cardmember industry group. An advantage of the spend mapping tool is that it identifies underdeveloped business-to-business markets. It also identifies and clarifies market characteristics of a business-to-business market between the merchant industry group and the cardmember industry group.
[0024]Identification of market characteristics enables more accurate and more efficient marketing and market segmentation because it identifies specific needs, as well as absence of needs, of specific business customers in specific markets. The desirability of markets is also more accurately identified.
[0025]In addition, the spend mapping tool improves accuracy and efficiency of developing an industry strategy as well as aligning products and services with appropriate customers and merchants. The spend mapping tool also ...
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A spend mapping tool provides a system, method, and computer program product for analyzing transactions between merchants and cardmembers. The tool groups a merchant by industry in a merchant industry group. The tool also groups a cardmember by industry in a cardmember industry group. Further, the tool analyzes transaction data from a transaction between at least one merchant in said merchant industry group and at least one cardmember in said cardmember industry group.
Description
CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application is a continuation of, claims priority to and the benefit of, U.S. Ser. No. 11 / 608,644 filed Dec. 8, 2006 entitled “METHOD, SYSTEM, AND COMPUTER PROGRAM PRODUCT FOR SPEND MAPPING TOOL,” which is incorporated herein by reference in its entirety.BACKGROUND OF THE INVENTION[0002]1. Field of the Invention[0003]The present invention relates generally to analysis of financial transactions between parties and, more particularly, to analyzing financial transactions between groups of industries.[0004]2. Background Art[0005]Marketing and advertising of financial services and products to businesses broadly targets potential and current customers. Financial services and products include financial transaction instruments such as credit cards. Traditional marketing and industry analysis does not always identify specific needs of specific business customers. As a result, traditional marketing and segmentation of financial services and pr...
Claims
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IPC IPC(8): G06Q30/02
CPCG06Q30/0255G06Q10/0635G06Q30/02G06Q30/0204G06Q30/0205G06Q40/08G06Q30/0271G06Q30/0276G06K19/07749
InventorBERWITZ, JOSHUA M.BOUVARD, GUILLAUME J.LYON, CHARLES C.RUTERMAN, JON K.ZELTZER, JOSEPH M.
OwnerLIBERTY PEAK VENTURES LLC