MasterCard Advisors, a division of MasterCard has announced a partnership and investment in Mu Sigma, a high-end analytics firm in Chicago and India. Mu Sigma specializes in advanced analytical tools and services with a team of more than 2,500 highly educated professionals, most of them in India.
It counts several leading retailers and major insurance carriers among its clients and received more than $100 million in VC funding, including investments from General Atlantic Partners and Sequoia Capital.The new partnership will combine MasterCard Advisors’ aggregated and anonymous purchase behavior purchase behavior insights with Mu Sigma’s advanced analytics and expertise. MasterCard Advisors and Mu Sigma will jointly develop innovative analytic products to enable companies of all sizes to successfully solve their business challenges – like acquiring customers and increasing customer loyalty.
As part of the strategic partnership MasterCard has acquired an equity stake in Mu Sigma. Terms of the deal were not disclosed.
MasterCard Advisors has been a global leader in big data technology, analytics and expertise for over 10 years. The company provides one of the largest sources of aggregated and anonymous transactions, and is positioned to deliver business intelligence and predictive analytics to a multitude of industry verticals including – merchants, financial institutions, advertisers, manufacturers and governments.
“The data analytics market is rapidly growing as customers seek real time insight allowing them to better connect with their consumers through highly relevant products, offers and services,” said GaryKearns, executive vice president, for information services at MasterCard Advisors.