An Enigma Business is a representation of a business’s information across multiple locations (if applicable) and its online channel. A Business is simply a group of Business Locations that have been linked together via a URL, with summed up revenue and aggregated growth numbers. Merchant transactions data for these records will include revenue attributed to any of these locations and online channels.
Some benefits of querying for a Business include:
URL Matching: You can now query our dataset with just a URL, which leads to more reliable matching due to the unique nature of URLs.
Business Hierarchies: You can see the relationship between a business and all of its individual locations. Importantly, you can query with an individual location or URL and get all other locations associated with a URL. Note that some of these locations are corporate registration addresses or mail-receipt locations, not necessarily operating locations.
More Comprehensive/Accurate Revenue: The card transaction revenues for a record should provide more insight into the business’s overall health, especially because online revenue is now included at the Business level.
Enigma rolls its business locations up to the business level using common URLs. For example, if Charles's Coffee has two locations, and Enigma has enriched both locations with a URL, a single Enigma Business ID, prefixed with a "B", will be assigned to the response object. The Business object will contain a list of Business Location IDs, prefixed with "E". Its ID endpoint will include revenue summed up across all Business Locations, and the revenue growth across the business as a whole.
Likewise, if a Business Location has been successfully enriched with a URL, it will also have a Business ID associated with it.
However, Business Locations that do not have have a URL will not have a Business ID, so using a waterfall approach is ideal (see next section).
We recommend using both in order to maximize match rates and attribute fill rates.
Use case example 1: Maximize matches for underwriting For an underwriter seeking to look up revenue, they may first submit a URL, name, and location with the Business parameter turned on. If no Business returns, they may repeat the request with the Business parameter off and receive a Business Location that has no URL, and therefore cannot be aggregated to the Business level.
One exception to the default usage of Businesses is if the business of interest is a franchise. For example, a McDonalds' franchisee will have their McDonalds' grouped with all other McDonalds' in the country - in these instances, we suggest looking up each location associated with the franchisee instead.
Use case example 2: Obtain corporate registration details For a due diligence analyst underwriter seeking to look up corporate registrations, they may first submit a URL, name, and location with the Business parameter turned on. They can then look up every Business Location ID underneath the Business to discover the Business Location that has the corporate registration information appended.
If no Business returns, they may repeat the request with the Business parameter off and receive a Business Location that has no URL, and therefore cannot be aggregated to the Business level.
URL matching: The Business match first looks up a match on a URL if it is included as part of the request body. URLs can include prefixes like "http://" or "www.", as well as subdomains like test.example.com. Platforms that host business websites, like Facebook or Yelp, are filtered out during the enrichment process.
Fallback logic: Then, if there is no exact URL match or if no URL is included, it will fall back to a reverse lookup of business locations using two of the three below.
- Business Name
- Business Address
- Associated person (typically an officer or the business owner)
If one of the returned Business Locations also has a URL and therefore can be linked up to the Business level, then the entire Business is returned.
Sometimes, a Business Location does not have any associated URL and therefore no Business match will return - in that case, we encourage the user to query the default Business Location.
To maximize match rates, we recommend that a user query both the Business and the Business Location.
Updated about 2 months ago