June 13, 2016
MasterCard aims to empower local businesses with big data, digital tools
TORONTO--MasterCard announced it is offering real-time, analytics-based market insights on revenue, market share, customer demographics and competitors to local merchants across Canada. Local Market Intelligence (LMI) offers insights on both a particular location and across multiple locations, regardless of the size of business.
"The potential for businesses operating in today's technology environment is unlimited, but to harness those opportunities business owners need first to understand how their business is performing," said Brian Lang, President, MasterCard. "Gone are the days of guessing your business share against neighbourhood competitors. Local Market Intelligence offers deep insights into how you're doing, how your competitors are doing and how to capitalize on your customers' shopping patterns."
The LMI online dashboard organizes and highlights store-level performance and the resulting insights that help to drive some of the most important decisions a business can make about operations, marketing and personnel. It focuses on three key areas: business performance; customer behavior; and competitive standing.
"Our vision for Canada is to see our cities become smarter and more digitally connected to their businesses, governments and citizens," said Lang. "This starts with helping local businesses – the economic engines of every city in Canada – maximize their revenues and success. When businesses of all sizes harness the power of digital commerce it creates a better environment for business owners and a better experience for employees and customers."
LMI was recently announced as part of the Digital Main Street initiative launched today by the City of Toronto in partnership with MasterCard. Digital Main Street helps local businesses in neighbourhoods across Toronto adopt digital tools, technologies, and services.
MasterCard offers local businesses in Canada the tools and resources they need to save time, save money, and use technology to their advantage, including the MasterCard Business Owner Toolbox (MBOT), an affordable way to access essential business tools all in one place.
Master Your Card educations sessions, presented by MasterCard, empower local businesses with free financial understanding. Master Your Card is rolling out new fall session dates across Canada. The program now contains added education for consumers on fraud protection, an expanded network of partners, and a new website offering free online resources.