Credit Cards

[Mailak]

I was at an American Express event yesterday and thought I'd share a couple of thing I heard/saw. They highlighted the fact that they know more about people than most other corporations because they were a network and card issuer. Interesting tidbits from the Big Data group within AMEX Technologies:

1) They are able to collect up to 400 pieces of data per transaction
2) Some merchants will in addition provide SKUs.
3) They will get things like destination for a swipe in a taxi

I got a look at some of their internal analytics applications:
4) AMEX customers' largest preferred restaurant type is "American." :-)
5) AMEX customers are big seafood eaters! :-)
6) One of their applications took in an AMEX card number and it immediately spit out classifications of spending patterns and guesses of interests: it was 2/3. One of them was just inaccurate. Neverthless, the others were accurate and it's amusing to see they were able to somehow put it together.

I got a kick out of it - thought I should post about it here!

[injustifiiable]

That is pretty interesting...one of the advantages of being both the issuer and the network....you can get all kinds of dirt on folks. lol

[tinuviel]

Thanks for sharing. I'm not surprised. Data mining is a big industry these days, and I'm not surprised that Amex is squeezing the last little piece of information that they possibly can out of a transaction. Hmmmm... I wonder if this means they know exactly what size and color t-shirt I bought from the museum gift shop during my recent trip to NY?

[john398]

Thanks for sharing, they must have a huge data center

[injustifiiable]

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tinuviel wrote:

Thanks for sharing. I'm not surprised. Data mining is a big industry these days, and I'm not surprised that Amex is squeezing the last little piece of information that they possibly can out of a transaction. Hmmmm... I wonder if this means they know exactly what size and color t-shirt I bought from the museum gift shop during my recent trip to NY?

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LOL Tinu...I wouldn't be surprised. AMEX bills already show things like Flight Information, how much your gas was per gallon and the quantity, and  how much of a tip you left at your favorite restaurant. This will happen one day, I bet. lol.

[jsickz32]

Then they must know the name of the strip club and bar i go to!

[GoldenloveNY]

You mean to tell me that Amex knows exactly what I bought in a Adult store last night, every detail or even the name of the girl I like the most in a NYC strip club ? Holy crap...I feel so dirty and shameful....:/ I feel invaded...I hate myself...:/

[jsickz32]

Lol they must know about stripper dollars and kiana

[BearOSO]

Not surprised but interesting to read! Like Google, not sure if it is a good or bad thing 

[Mailak]

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GoldenloveNY wrote:
You mean to tell me that Amex knows exactly what I bought in a Adult store last night, every detail or even the name of the girl I like the most in a NYC strip club ? Holy crap...I feel so dirty and shameful....:/ I feel invaded...I hate myself...:/

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I know, right?

The guy saw somewhat astonished face when he said some merchants now provide SKUs. I didn't expect them to have an itemized list of what I was buying. I very  apprehensively put in my number into their application (with others telling me later that they were holding their breath)... who knows what would have come up... but I had to give it a try. Too good an opportunity to pass up!