Published: September 28, 2023
Reading time: 3 minute read
Written by: Forter Team

Across the board, merchants are being asked to do more with less to maximize revenue and grow customer lifetime value. As revenue targets continue to climb and consumers expect more and more from their digital shopping experiences, merchants are looking for data to optimize and customize their customer journeys. 

Merchants now need more data to improve performance, minimize costs, and provide the best customer experiences to their digital shoppers. For many merchants, however, it can be difficult to access their data metrics in a digestible way that unlocks meaningful change for their business. 

At Forter, we’ve seen the power and results of connecting data to business outcomes by leveraging an expansive first-party dataset of over 1.2B online identities and hybrid AI that fuses artificial intelligence, machine learning and human expertise. Forter leverages cyber and behavioral intelligence, which holistically looks at thousands of hard and soft data points such as online behavior, cyber information, device information, and event information to deliver instant, accurate decisions. By giving merchants access to incredibly rich data, they can trust Forter to more accurately determine who is a fraudster or a legitimate customer and ultimately increase revenue while improving the customer experience. 

Forter is proud to now offer access to on-demand KPIs that drive proactive decision-making with Forter Data Studio. Forter Data Studio enables fraud and payments teams to create custom dashboards for added insight, control, and visualization across the customer journey.  

Forter Data Studio unlocks rich data sources across the customer journey — from sign-up to checkout to chargeback — to give merchants a single source of truth to uncover key insights. Merchants can slice and dice their data in many ways to derive precise insights and deliver better outcomes. The ability to segment by geo, payment method, account type, amount, decision reason, and more means merchants can dig into any anomaly, share customized reports with key stakeholders in just a few clicks, and ultimately put together proactive, strategic plans to maximize conversions and deliver a seamless customer experience.

How our Customers Leverage Forter Data Studio 

Forter Data Studio offers the ability to evaluate data in several different ways. Here are four examples of how our customers have utilized Forter Data Studio to drive business outcomes. 

Increase Approval Rates

When looking at data holistically, creating a strategy to increase approval rates can be difficult. If you have the ability to slice declined transactions by different segments, however, it becomes easier to compare and contrast performance to find problematic areas for improvement. Merchants can then implement different strategies for different segments to best meet their needs while boosting performance. 

Minimize Chargebacks

Chargebacks provide an important feedback loop on your fraud and service performance. If you can accurately catch when specific chargeback reason codes spike, you can quickly identify the source to minimize future chargebacks. For example, if you see item-not-received chargebacks increasing due to delays in your warehouse, you can proactively communicate these delays with customers to prevent more chargebacks. 

Prevent Policy Abuse

Many of our merchants have shared that abuse is increasing, and it’s becoming more important for their businesses to understand and create comprehensive strategies. With Forter Data Studio, merchants can evaluate abuse-related costs, such as returns or reseller abuse, and determine if policies must be updated to curb this abuse. 

Improve Authorization Rates

Merchants are looking more and more to optimize their payment flows. Forter Data Studio unlocks the ability to compare 3DS or processor performance to improve authorization rates. For example, North American merchants have seen success from utilizing 3DS only with customers who would have previously been declined — increasing their overall authorization rate. Similarly, merchants have utilized Forter Data Studio to track processor performance to help make the case when a processor should be changed, or they should move to a multiprocessor strategy.  

By leveraging Forter Data Studio, your business can uncover critical insights and trends to maximize revenue and customer experience. 

3 minute read