"Business Insights Suite” is a web analytics service offered by Wirecard that tracks, reports, and analyzes the business performance of Wirecard clients. The new product was aimed at medium and large merchants to gain insights on their payments. The goal was to help merchants identify problems and negative trends early to take corrective measures. The product would also give Wirecard a competitor edge in the market. The phase 1 product was planned to be launched in Q4 of 2020.
After the initial kick off, we conducted a couple of workshops to align the team. Since this was a large and a complex project, I hired another freelancer for support. The product team had given us user stories and all the business requirements. A list of all competitors in the space was provided to us. After many whiteboard sessions with the product we came up with the information architecture. From a UX and design perspective, we also did a competitor analysis and comparison.
The business insights department had done a competitor analysis and collected a lot of valuable insights for us to start the project with. These were rated to find out best practices in the industry. Since the product was also related to customer behaviour we found a lot of parallels. The researched examples really helped our brainstorming and wireframes.
We studied these competitors in detail. Each of them had a different way of approaching a similar challenge. Some of the features we were planning were brand new and didn’t yet exist in any competitor products. We found common usage patterns and clarified industry standards and expectations as a result of this analysis.
The idea for this concept was based on the concept of layers. Since the amount of information available to the end user would be huge, our approach was to show an initial overview of information of the business and then allow the user to drill down deeper and deeper into transactions and every detail. Every element would work on this principle.