First Data teams with Lucent Technologies' Visual Insights Software
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Lucent Technologies and First Data Corporation (FDC) have announced an agreement for FDC to use Visual Insights data visualization software to help clients better use their bankcard data.
Visual Insights is a venture of Lucent Technologies, and FDC is a global leader in payment systems, including credit, debit and stored-value card processing, electronic commerce, and information management products and services.
"By partnering with Lucent Technologies, we can offer our clients leading edge technology in visual data mining so that they can analyze their data more effectively," said Richard A. Zehnacker, managing director for First Data Resources, Inc., the card processing unit of FDC. "Our collaboration will significantly strengthen the competitive edge our customers achieve by enabling them to see their data in different ways and use the data to develop competitive strategies and make better business decisions."
"First Data is a global leader in its field, and our relationship with them is a major win for Visual Insights and for the rapidly advancing field of interactive data visualization," said Doug Cogswell, CEO and president of Visual Insights. "First Data shares our vision for making interactive data visualization software a key user interface and tool -- simplifying complex decisions by displaying large volumes of data in intuitive graphical formats."
The Visual Insights Developer's Toolkit includes 10 interactive visualization components, based on the Microsoft ActiveX control architecture; sample applications; an extensive, on-line help system; and data interface tools.
First Data plans to use the Developer's Toolkit to add a visual display and analysis environment that will provide clients with the most technologically advanced visual data mining capabilities available.
Card issuers use bankcard data analysis services to understand buying patterns, improve customer retention, mitigate risk, identify cross-selling opportunities and optimize credit.
"We help financial institutions analyze immense quantities of data," said Zehnacker. "By offering Visual Insights data visualization software capabilities, our clients can more effectively analyze their data and better understand consumer behavior."
Omaha, Neb.-based First Data Resources provides the most advanced credit and debit card processing solutions available in today's global marketplace. Through the consistent delivery of industry leading system functionality and the deployment of client driven service structures, First Data partners with clients to enhance their portfolio growth, increase market share, reduce risk and improve profitability.
Atlanta-based First Data Corporation is a global leader in payment systems, electronic commerce and information management products and services. First Data and its principal operating units process the information that allows millions of consumers to pay for goods and services by credit, debit or stored-value card at the point of sale or over the Internet, by check or wire money. For further information about First Data, please visit the Company on the Internet at http://www.firstdatacorp.com.
Visual Insights is also developing two other applications that provide end-to-end solutions for key business challenges. Visual Insights Software for Application Performance monitors end-user performance, collects relevant data, and uses interactive data visualization to help managers diagnose application performance problems. Visual Insights Software for Retail Analysis, scheduled for release in early 1999, focuses on customer buying activity.
Lucent Technologies, headquartered at Murray Hill, New Jersey, designs, builds, and delivers a wide range of public and private networks, communications systems and software, data networking systems, business telephone systems and microelectronic components. Bell Laboratories is its research and development arm. For further information on Lucent Technologies, visit the web site at http://www.lucent.com.
Visual Insights, headquartered at Naperville, Illinois, is a wholly owned venture of Lucent that designs, builds, and delivers software solutions that revolutionize customer decision making and analysis by providing world class data visualization. Its web site is http://www.visualinsights.com.