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[00:00:00.44] Goats and yoga studios, dogs and coffee shops, tires, and restaurant ratings, successful pairings and businesses, aren't always obvious. Finding surprising new products and services, can boost a business to the tune of 40%. And working with the right data and insights to uncover them, is a perfect solution. So how can businesses find the right strategy that works for them?

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[00:00:23.71] Text: How data can unlock hidden opportunities. Florencia.

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[00:00:27.71] At J.P Morgan Payments, we process almost $10 trillion in daily transactions. That's like buying 5 billion couches in one day. Understanding this transaction data, is the key to seeing the big picture.

[00:00:40.29] To see exactly how data comes into play, imagine a home furnishing shop? J.P Morgan's customer insight solution, identify trends in their transactions to piece together a bigger customer story and revealed surprising connections.

[00:00:55.23] For example, the data revealed that 30% of pet store transactions, take place on a Saturday. And 40% of those same shoppers visit the home furnishing store after.

[00:01:05.99] The data also revealed, that those same customers were spending an impressive 76% more than the average home furnishing purchasers. Empowered by these insights, the furnishing shops product team launched a line of furniture designed for furry friends, with special store events taking place during the weekends. And their marketing team partnered with local pet shops and adoption centers to drive awareness.

[00:01:29.74] This strategy resonated with the retail store customers so much, that it resulted in a remarkable 40% boost in foot traffic and revenue increased by 20%. Our customer insights can help companies figure out the best strategies, products to build, and marketing approaches for the business.

[00:01:47.50] Don't settle for just scratching the surface. Instead, let's uncover your next great strategic expansion together, through J.P Morgan Payments API first infrastructure and robust end to end payment solutions.

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[00:01:59.22] JP Morgan Payments, The Explainer Studio.