Unlocking Insights Through Comparative Analysis (Part I): Same Metrics, Different Populations
If you process payments, chances are you have a plethora of payments data you would love to dig deeper into. For each payment processor you use, you can probably identify metrics like transaction count, chargeback rate, and average order value for specific time periods; you might even be able to view these metrics broken down by payment method or currency used. But when it comes to aggregating these metrics across processors and comparing subsets of transactions or customers against one another, you’re not exactly set up for success.
That’s where Peacock by Pagos comes in. Peacock is a one-of-a-kind payments data visualization platform that aggregates and harmonizes data from all of your payment processors into one comprehensive data set via a simple no-code or low-code connection. It then uses this data to generate charts and graphs, breaking down all of your transactions, declines, chargebacks, orders, and more by an array of variables from countries and currencies to card types and brands.
When it comes to comparative analytics, Peacock is unmatched. In your Peacock Service Panel, you can build custom dashboards containing the ideal combination of data visualizations to hone in on the specific metrics that tell you the most about your business. You can even filter entire dashboards or individual charts and graphs within a dashboard to compare these metrics across specific subsets of your data!
Among Pagos customers, we see two primary use cases for custom dashboards:?
In this series of posts, we’ll explore the value of each of these comparative analysis use cases, and then outline the features of Peacock that make them possible. Let’s fly in!
Comparing Different Metrics Across One Population
If you want to analyze and compare different data points across one of your payment vendors or one of your customer segments holistically, Peacock custom dashboards are the right fit for you. Consider a situation in which you process transactions in three different countries; to understand how your customers behave in each country individually, you’ll want to have a unique data dashboard for each country. This can be especially helpful for gauging how a change in your processes (e.g. offering a new payment method type or changing product prices) impacts purchasing behavior in each country.
Here’s how this might look in Peacock:
Let’s say your MIDs are in line with your different business segments, meaning you process transactions for each segment through separate, unique merchant accounts. If you funnel all US online business through a single MID, for example, you could then monitor the performance of that business segment in a custom dashboard filtered to only show transactions for that MID:
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First, notice the entire custom dashboard is filtered using the Merchant Account ID option within the Processor filter; this is how we ensure we’re only evaluating the data for transactions processed through the MID in question. The charts selected for the custom dashboard in this example allow you to evaluate the overall health of the associated business segment, including turnover and average order value (AOV), processor approvals, declines, and wrapping up with refunds and chargebacks. If you are also responsible for managing costs, you may include a chart demonstrating cost categories.
By using Peacock in this way, you’re essentially making a scorecard for one segment of your business by honing in on the payment metrics you care about most and comparing them across that segment. You could replicate this process for each MID or business segment. That way, you can have a quick place where you can enter Peacock and see a holistic view of performance every day!?
In part II of this post series, we’ll discuss the alternate use case: comparing the same data across different populations. Stay tuned!
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Check out the next two installments in this series:
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