Why financial big data is important for businesses in 2021

Diego Katzman

Diego Katzman
Published 07/07/2021 · 3 min read

Data generated from traffic on digital platforms is the future of businesses.

What many call "the new oil"; it is estimated that by 2025 every person in the world will produce on average some data interaction every 18 seconds, according to IDC's Digitisation of the World study. This data, used in the right way, has countless benefits for users, who see their digital and shopping experience tailored to their tastes, habits and preferences. But why is big data so important for businesses?

Some of the many functions of big data management are:

  • It allows businesses like yours to get information about their potential users, so you can identify and reach them.
  • It allows you to identify the consumption, purchasing or payment habits of your business’ existing customers so you can tailor or extend the shopping experience you offer.

In short, big data allows you to personalise both the communication and the experience you offer to your customers or future customers. It is the optimal way to approach your business strategy.

However, now that you know what big data is for, you are probably wondering, "How does big data work?". How do you start using it to your advantage? Well, data mining, data management and business intelligence tools have been created to meet this need. What is business intelligence? Business intelligence is the name given to software tools that experts develop to select the most important values or variables of a business' finances to provide the indicators you need to improve your company's decision-making. These techniques were first developed by Peter Luhn in 1958, and have become especially useful with the arrival of the constant flow of data brought about by the digitalisation of the market.

Advantages of integrating business intelligence tools with a fintech expert

  • Total optimisation of finances: thanks to intelligent KPI analysis. Keep under control the identified key performance indicators, identified by financial experts from our team. Values such as transaction activity, sales or risk will allow you to carry out a streamlined and efficient management control, with one of the most acclaimed financial technology developers: integrate the best business intelligence into your business.
  • Unbeatable responsiveness: thanks to our Dashboard… We present our data analysis dashboard: a simple, complete and intuitive interface where you will see the KPIs of your business clearly reflected in real-time. This way, you will be able to consult your business's financial status at any time to make the most appropriate decisions in line with your business strategy.
  • Save time and money in managing your company. Leave your company’s big data in the hands of experts in financial management technology, what do you get? More and better results, and more time and resources you can invest in your strategy. Implement technology with guaranteed results: increase your conversion smartly.
  • Develop the best strategy. Once you know that you have the best management control and financial optimisation tools at your disposal, you know you can design an ambitious business strategy, and plan it in detail. Because you know that you have the necessary resources to control it, redirect it and deal with possible unforeseen events (especially with the constant uncertainty that the market has been experiencing for the last year).

For all these reasons, we believe it is time for businesses like yours to start making the most of their data: it is the beginning of a trend that is here to stay, allowing you to offer your customers an individualised service the best UX.

How do I start using business intelligence in my business? Step-by-step integration

We know that, especially when you do not have any previous experience with Fintech, you are looking for someone to help you integrate it, little by little, and import your historical data. No problem! We show you the steps to follow to start benefiting from one of the most powerful financial technologies in the sector.

  1. Contact us: our team of experts will offer you personalised advice. What are your goals? What is the state of your business? You will receive a proposal adapted to your needs and constant support in its execution.
  2. Import your company’s historical data so as not to lose anything. We migrate your company’s activity data so that you can start enjoying business intelligence now, in a simple way.
  3. Get results. From day one you can enjoy a simplified view of your financial data, where you can access the status of your business at any time, it is that simple. This way, you will carry out your best medium- and long-term strategy and increase your conversion and customer satisfaction.

PayXpert, one of the best Fintech in Spain in 2021

2021 has been a successful year for PayXpert so far. First, we received an award for our in-store payment solution at the Payments Awards. More recently, we were recognised as the best national Fintech in 2021 at the Tecnología Siglo XXI awards. Both awards recognise our work in developing effective and responsive solutions for our customers, and encourage us to continue working to help them achieve results through best-in-class management control and payment solutions. Since we started this journey in 2009, our goal has always been to help our clients optimise their finances; 12 years later, we can say that we are succeeding. However, our work does not stop here, we know we can continue to improve, helping large and small businesses to make a smarter use of their finances. Shall we talk?

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