American Express launches new analytics division

In the US, American Express has launched a new analytics and consulting division, to help business customers develop better-informed growth strategies.

'American Express Business Insights', which offers aggregated trend analysis, will work with clients to provide data-driven insights focused on specific customer segments.

The new division draws information from the spending patterns on approximately 90 million cards, to analyze consumer, small business and corporate spending patterns. All data analysis is done on an aggregate level and does not disclose any personally identifiable information.

This involves pooling transactional data to create customer segments such as 'ultra-affluent' or 'large corporate', to better evaluate the purchasing patterns within a business. Business Insights will customize its analyses and also draw on publicly available market data.

The new unit will be based in the firm's Global Merchant Services unit, which maintains relationships with millions of merchants around the globe.

'Our ability to interpret trend patterns across the American Express global network represents an unprecedented reserve of competitive insights for businesses,' stated Bill Glenn, President, Global Merchant Services. 'Using the power of our network, we can help companies make smarter, more rigorous, and more customer-focused decisions.'

In August, American Express Business Travel opened a dedicated research practice to help companies cut the cost of their business trips.