Leading digital merchant platform Fave has launched ‘Favebiz Insights’, powered by Nugit’s Data Storytelling Platform after they identified that their 30,000+ merchants were finding it difficult to work with the complex data they were inundated with and missing opportunities to grow their business.
All businesses in SouthEast Asia must find ways to deal with the huge influx of data, an organic byproduct of this digital era. With constantly updating sales information, website statistics and marketing figures, it can be a challenge for any organisation to extract value from their data. Nugit’s AI & automation features make it possible for Fave to offer this personalised insights service to their merchants on a global scale, providing businesses in Singapore, Malaysia and Indonesia with digestible data insights in the form of Data Stories delivered monthly to their email inbox.
This new tool is part of a suite of services offered by Fave, to support their merchants in all areas of running a business including payments acceptance, customer loyalty, marketing, acquiring new customers & digitising operations. The Data Stories are designed to identify & showcase key business insights through a series of visualisations that follow a clear story narrative to make them easy for humans to consume.
Joel Neoh, Founder of Fave Group says “Fave’s aim is to equip offline business owners with all the tools they need to identify opportunities and act on them, enabling anyone to compete and thrive in this digital landscape. Our latest tool, Favebiz Insights, is having a huge impact for many merchants as it highlights what they should pay attention to in a way real people can understand – no data analytics degree needed.”
David Sanderson, CEO & Founder of Nugit says, “We’re proud to power ‘Favebiz Insights.’ We share a mutual goal to empower business owners, helping them to make the best decisions from their data. Our development focuses on making it easier for companies to learn about their own businesses, and share meaningful insights with their customers at scale. By partnering with Fave, smaller businesses have access to powerful Data Storytelling technology that would be otherwise unattainable to them.”
“Favebiz Insights provide us with visibility on who are our most frequent and high-value customers and we find it very valuable! Having this data can help us better plan our promotions to target the right audiences!” Cliff Heng, Head of Corporate Services – U Stars Supermarket.
Small and medium businesses are the foundation of the Asia Pacific economy, making up 98% of all enterprises and employing about 60% of the workforce across the region. Most small businesses have restrictive budgets and limited resources which makes the most innovative software and tools unattainable due to hefty price tags. Singapore & Malaysian governments are driving the adoption of digital transformation with a variety of initiatives.