MasterCard Advisors, a division of MasterCard , and data analytics firm Mu Sigma have announced a new partnership that combines MasterCard Advisors’ aggregated and anonymous purchase behavior insights with Mu Sigma’s advanced analytics. The two will jointly develop analytic products to enable companies of all sizes to successfully solve business challenges such as acquiring customers and increasing customer loyalty.
As part of the strategic partnership MasterCard has acquired an equity stake in Mu Sigma. According to research by Wikibon, the Big Data analytics market stood at just over USDbn in early 2012, and is expected to grow at a rapid clip of 58% CAGR between now and 2017 – resulting in a USD50bn market opportunity within five years.
“The data analytics market is rapidly growing as customers seek real time insight allowing them to better connect with their consumers through highly relevant products, offers and services,” said Gary Kearns, Executive Vice President, Information Services for MasterCard Advisors. “By combining MasterCard Advisors’ purchase behavior insights with Mu Sigma’s expertise we will be able to drive faster innovations in data analytics solutions and deliver them on a broader scale, globally.”
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