Commerce Signals was founded to bring better, unique payment data sets to market at speed and in a privacy centric manner. Historically, there are 3 ways data is exchanged:
- You give me all of your data
- I give you all of my data
- We give a neutral party our data
In each of these cases, the data leaves the owner’s four walls and there is a loss of control. The value of data is at its intersection, and mashing data together can lead to powerful insights. But how are those insights controlled? How is the use of data controlled? Answer: It is not. Hence many “private” data sources stay locked up.
To develop a new data sharing model, Tom partnered with Russ Schrader, the former Chief Privacy Officer of Visa and a member of the Department of Homeland Security’s Data Privacy Committee. Together they designed a model, Federated Data, that enables insight sharing between businesses without losing control of the data or sacrificing consumer privacy.
Our talented engineering, data science and product teams built a system that enables near-real time measurement of marketing effectiveness. With three patents granted and numerous others pending, we are proud of their work.
We’ve unlocked exciting new insights for retail, restaurant and entertainment marketers. In fact, we enabled a major omni-channel retailer to realize that they could more than double the sales generated by their digital marketing campaign by optimizing for incremental sales from Commerce Signals instead of click-through rate.
“Accurate data is great, but timely and accurate signals are actionable. Providing those are what really make us stand out.”+-
On December 19, 2019, Verisk Analytics acquired Commerce Signals, which became part of the Verisk Financial division.