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Credit Cards Data is useful or not

New Visitor

Credit Cards Data is useful or not

Hi everyone,

 

I want to hear your opinions about credit cards data is useful for something or not. I have researched and i have find some articles that tells about useful of credit cards data ( [url]http://www.pymnts.com/news/investment-tracker/2017/reliance-on-card-data-sneak-peaks-is-making-retai...] ). And what do you think is possible to use data from credit cards to know example how many yoga balls or basketball ball has sold in 2016 and range of price etc..

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Moderator

Re: Credit Cards Data is useful or not

Hi there OP and welcome to the board Smiley Happy

 

I moved this on over to credit in the news am also letting you know the link brings up a page error.

"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne
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Valued Contributor

Re: Credit Cards Data is useful or not


Normand12 wrote:

Hi everyone,

 

I want to hear your opinions about credit cards data is useful for something or not. I have researched and i have find some articles that tells about useful of credit cards data ( [url]http://www.pymnts.com/news/investment-tracker/2017/reliance-on-card-data-sneak-peaks-is-making-retai...] ). And what do you think is possible to use data from credit cards to know example how many yoga balls or basketball ball has sold in 2016 and range of price etc..


HECK YES its useful..

Thats why companies like United Healthcare use them on HSCs and why health/medication "compliance" scoring penalizes you for using cash for prescriptions! Even FICO has a "compliance score".... http://www.fico.com/en/products/fico-medication-adherence-score

 

 

A good advocate on this privacy/algo/datamining in healthcare is Barbara Duck... 

https://ducknetweb.blogspot.com/2015/07/patients-who-pay-cash-when-filling.html

 

 These healthcare/insurance companies buy CC purchase data to datamine it to see if your buying alcohol, or paying for a gym, etc etc...And most cards have more detailed purchase data than in the past..... 

 

One story on UHC

https://ip4pi.wordpress.com/2015/11/08/united-healthcares-bank-enables-even-more-data-mining-about-y...

 

One of my favorite examples is Targets own folks figuring out if someones pregnant..

http://www.nytimes.com/2012/02/19/magazine/shopping-habits.html

https://www.forbes.com/sites/kashmirhill/2012/02/16/how-target-figured-out-a-teen-girl-was-pregnant-...

 

 

 

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