Thomas Noyes launched Commerce Signals in 2014. Since then the Palo Alto, California data collaboration company has attracted $4 million in funding from five investors. Its neutral online data collaboration platform allows businesses to publish and discover data in real time. Commerce Signals acts as a permissioned data exchange enabling data owners to specify and control who can access and use their local data, and for what. It is aimed chiefly at financial institutions and marketers.
Financials may commercialise insights for mid and long tail data buyers while minimising investment. Corporates can activate timely and critical data for their customers. They need no additional hardware, markedly lowering costs. Data buyers can request insights 24/7 and get results within 24-48 hours using a dashboard or an API. They can get aggregate insights, measure advertising effectiveness, and select data sources based on a set match rate.
Marketers enjoy tools to optimise and measure advertising using data from retail electronic payments provider Visa. They can analyse data themselves, while the platform provides results within 24 hours, nonstop dashboard or API access, deterministic matching to payment methods, and agnostic ID management.
Marketers may analyse and optimise sales campaigns using purchase data as fresh as two days old. Only a handful of other platforms allow anything close to real time campaign metrics. Data is provided by Visa Ad Measurement. Commerce Signals have no publicly announced plans to involve other electronic payment services.
By Kiril V. Kirilov
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