Summary
In this episode of Business Over Borders, host Leo Tucker connects with Lohrasp Seify, SVP Technology at Reach, to unpack the critical role of data in optimizing global e-commerce operations. Lohrasp delves into how businesses can move beyond simply collecting data to applying it strategically. Dive into the episode for insights into identifying key performance indicators, understanding authorization rates, and avoiding common pitfalls like "overfitting" data. He emphasizes the importance of aligning data analysis with clear business objectives and offers practical advice for businesses at all stages of data maturity. Discover how to transform data into actionable strategies for maximizing efficiency and growth in international markets. Resources & Links: Learn more about Reach: https://www.withreach.com/ Find more cross-border e-commerce knowledge: https://www.withreach.com/network Related Content 🖊 Optimizing Global Payments: Data-Driven Strategies for Higher Authorization Rates 📽 Business Over Borders #6 • Practice Payments Strategy, Not 'Payments Buffet' with Melissa Pottenger 📽 Business Over Borders #1 • Data-Driven Payments Success With Lohrasp Seify
Transcript
Leo Tucker: Welcome back to another episode of Business Over Borders. I'm your host, Leo Tucker, and I'm joined by Lohrasp Seify. Welcome to the show again. Nice to have you back.
Lohrasp Seify: Nice to be here, Leo.
Leo Tucker: I think the last time we chatted, we talked about all things data and mostly how routing plays plays into that. You know, connecting the dots between where a customer is, where the acquiring banks are, BIN routing, things like that. I want to dig a little bit deeper into data. So let's let's take a store, for example, someone who's kind of already expanded into the markets they want to work in. How can they best, you know, without accessing new markets, sort of optimize payments in their existing markets?
Lohrasp Seify: What data helps you understand is whether the actions that you're taking are having a positive or negative effect on your business. And then trying to use the data points that you've collected to vector yourself correctly. What should I do? Where should I focus on? ...