Data integration involves combining data residing in different sources and providing users with a unified view of them. This process becomes significant in a variety of situations, which include both commercial and scientific domains. Data integration appears with increasing frequency as the volume and the need to share existing data explodes, it has become the focus of extensive theoretical work, numerous open problems remain unsolved. Data integration encourages collaboration between internal as well as external users Issues with combining heterogeneous data sources referred to as information silos, under a single query interface have existed for some time. In the early 1980s, computer scientists began designing systems for interoperability of heterogeneous databases; the first data integration system driven by structured metadata was designed at the University of Minnesota in 1991, for the Integrated Public Use Microdata Series. IPUMS used a data warehousing approach, which extracts and loads data from heterogeneous sources into a single view schema so data from different sources become compatible.
By making thousands of population databases interoperable, IPUMS demonstrated the feasibility of large-scale data integration. The data warehouse approach offers a coupled architecture because the data are physically reconciled in a single queryable repository, so it takes little time to resolve queries; the data warehouse approach is less feasible for data sets that are updated, requiring the extract, load process to be continuously re-executed for synchronization. Difficulties arise in constructing data warehouses when one has only a query interface to summary data sources and no access to the full data; this problem emerges when integrating several commercial query services like travel or classified advertisement web applications. As of 2009 the trend in data integration favored loosening the coupling between data and providing a unified query-interface to access real time data over a mediated schema, which allows information to be retrieved directly from original databases; this is consistent with the SOA approach popular in that era.
This approach relies on mappings between the mediated schema and the schema of original sources, transforming a query into specialized queries to match the schema of the original databases. Such mappings can be specified in two ways: as a mapping from entities in the mediated schema to entities in the original sources, or as a mapping from entities in the original sources to the mediated schema; the latter approach requires more sophisticated inferences to resolve a query on the mediated schema, but makes it easier to add new data sources to a mediated schema. As of 2010 some of the work in data integration research concerns the semantic integration problem; this problem addresses not the structuring of the architecture of the integration, but how to resolve semantic conflicts between heterogeneous data sources. For example, if two companies merge their databases, certain concepts and definitions in their respective schemas like "earnings" have different meanings. In one database it may mean profits in dollars, while in the other it might represent the number of sales.
A common strategy for the resolution of such problems involves the use of ontologies which explicitly define schema terms and thus help to resolve semantic conflicts. This approach represents ontology-based data integration. On the other hand, the problem of combining research results from different bioinformatics repositories requires bench-marking of the similarities, computed from different data sources, on a single criterion such as positive predictive value; this enables the data sources to be directly comparable and can be integrated when the natures of experiments are distinct. As of 2011 it was determined that current data modeling methods were imparting data isolation into every data architecture in the form of islands of disparate data and information silos; this data isolation is an unintended artifact of the data modeling methodology that results in the development of disparate data models. Disparate data models, when instantiated as databases, form disparate databases. Enhanced data model methodologies have been developed to eliminate the data isolation artifact and to promote the development of integrated data models.
One enhanced data modeling method recasts data models by augmenting them with structural metadata in the form of standardized data entities. As a result of recasting multiple data models, the set of recast data models will now share one or more commonality relationships that relate the structural metadata now common to these data models. Commonality relationships are a peer-to-peer type of entity relationships that relate the standardized data entities of multiple data models. Multiple data models that contain the same standard data entity may participate in the same commonality relationship; when integrated data models are instantiated as databases and are properly populated from a common set of master data these databases are integrated. Since 2011, data hub approaches have been of greater interest than structured Enterprise Data Warehouses. Since 2013, data lake approaches have risen to the level of Data Hubs; these approaches combine unstructured or varied data into one location, but do not require an maste
Irvine is a master-planned city in Orange County, United States in the Los Angeles metropolitan area. The Irvine Company started developing the area in the 1960s and the city was formally incorporated on December 28, 1971; the 66-square-mile city had a population of 212,375 as of the 2010 census. A number of corporations in the technology and semiconductor sectors, have their national or international headquarters in Irvine. Irvine is home to several higher education institutions including the University of California, Concordia University, Irvine Valley College, the Orange County Center of the University of Southern California, campuses of California State University Fullerton, University of La Verne, Pepperdine University; the Gabrieleño indigenous group inhabited Irvine about 2,000 years ago. Gaspar de Portolà, a Spanish explorer, came to the area in 1769, which led to the establishment of forts and cattle herds; the King of Spain parceled out land for private use. After Mexico's independence from Spain in 1821, the Mexican government secularized the missions and assumed control of the lands.
It began distributing the land to Mexican citizens. Three large Spanish/Mexican grants made up the land that became the Irvine Ranch: Rancho Santiago de Santa Ana, Rancho San Joaquin and Rancho Lomas de Santiago. In 1864, Jose Andres Sepulveda, owner of Rancho San Joaquin sold 50,000 acres to Benjamin and Thomas Flint, Llewellyn Bixby and James Irvine for $18,000 to resolve debts due to the Great Drought. In 1866, Irvine and Bixby acquired 47,000-acre Rancho Lomas de Santiago for $7,000. After the Mexican-American war the land of Rancho Santiago de Santa Ana fell prey to tangled titles. In 1868, the ranch was divided among four claimants as part of a lawsuit: Flint and Irvine; the ranches were devoted to sheep grazing. However, in 1870, tenant farming was permitted. In 1878, James Irvine acquired his partners' interests for $150,000, his 110,000 acres stretched 23 miles from the Pacific Ocean to the Santa Ana River. James Irvine died in 1886; the ranch was inherited by James Irvine II, who incorporated it into The Irvine Company.
James Irvine II shifted the ranch operations to field crops and citrus crops. In 1888, the Santa Fe Railroad extended its line to Fallbrook Junction, north of San Diego, named a station along the way after James Irvine; the town that formed around this station was named Myford, after Irvine's son, because a post office in Calaveras County bore the family name. The town was renamed Irvine in 1914. By 1918, 60,000 acres of lima beans were grown on the Irvine Ranch. Two Marine Corps facilities, MCAS El Toro and MCAS Tustin, were built during World War II on ranch land sold to the government. James Irvine II, died in 1947 at the age of 80, his son, assumed the presidency of The Irvine Company. He began opening small sections of the Irvine Ranch to urban development; the Irvine Ranch played host to the Boy Scouts of America's 1953 National Scout Jamboree. Jamboree Road, a major street which now stretches from Newport Beach to the city of Orange, was named in honor of this event. David Sills a young Boy Scout from Peoria, was among the attendees at the 1953 Jamboree.
Sills went on to serve four terms as the city's mayor. Myford Irvine died in 1959; the same year, the University of California asked The Irvine Company for 1,000 acres for a new university campus. The Irvine Company sold the requested land for $1 and the state purchased an additional 500 acres. William Pereira, the university's consulting architect, The Irvine Company planners drew up master plans for a city of 50,000 people surrounding the new university; the plan called for industrial and recreational areas, commercial centers and greenbelts. The new community was to be named Irvine; the first phases of the villages of Turtle Rock, University Park, Westpark, El Camino Real, Walnut were completed by 1970. On December 28, 1971, the residents of these communities voted to incorporate a larger city than the one envisioned by the Pereira plan. By January 1999, Irvine had a total area of 43 square miles. In the 1970s, the mayor was Bill Vardoulis. After the Fall of Saigon in 1975, a large influx of Vietnamese refugees settled in nearby Fountain Valley in the late 1970s and throughout the 80s, forming a large percentage of Asian Americans in the city.
In late 2003, after a ten-year-long legal battle, Irvine annexed the former El Toro Marine Corps Air Station. This added 7.3 square miles of land to the city and blocked an initiative championed by Newport Beach residents to replace John Wayne Airport with a new airport at El Toro. Most of this land has become part of the Orange County Great Park. Irvine borders Tustin to the north, Santa Ana to the northwest, Lake Forest to the east, Laguna Hills and Laguna Woods to the southeast, Costa Mesa to the west, Newport Beach to the southwest. Irvine shares a small border with Orange to the north on open lands by the SR 261. San Diego Creek, which flows northwest into Upper Newport Bay, is the primary watercourse draining the city, its largest tributary is Peters Canyon Wash. Most of Irvine is in a broad, flat valley between Loma Ridge in the north and San Joaquin Hills in the south. In the extreme northern and southern areas, are several hill
Analytics is the discovery and communication of meaningful patterns in data. In other words, analytics can be understood as the connective tissue between data and effective decision making, within an organization. Valuable in areas rich with recorded information, analytics relies on the simultaneous application of statistics, computer programming and operations research to quantify performance. Organizations may apply analytics to business data to describe and improve business performance. Areas within analytics include predictive analytics, prescriptive analytics, enterprise decision management, descriptive analytics, cognitive analytics, Big Data Analytics, retail analytics, supply chain analytics, store assortment and stock-keeping unit optimization, marketing optimization and marketing mix modeling, web analytics, call analytics, speech analytics, sales force sizing and optimization and promotion modeling, predictive science, credit risk analysis, fraud analytics. Since analytics can require extensive computation, the algorithms and software used for analytics harness the most current methods in computer science and mathematics.
Analysis is focused on understanding the past. Analytics focuses on what will happen next. Data analytics is a multidisciplinary field. There is extensive use of computer skills and statistics, the use of descriptive techniques and predictive models to gain valuable knowledge from data.. The insights from data are used to recommend action or to guide decision making rooted in business context. Thus, analytics is not so much concerned with individual analyses or analysis steps, but with the entire methodology. There is a pronounced tendency to use the term analytics in business settings e.g. text analytics vs. the more generic text mining to emphasize this broader perspective. There is an increasing use of the term advanced analytics used to describe the technical aspects of analytics in the emerging fields such as the use of machine learning techniques like neural networks, Decision Tree, Logistic Regression, linear to multiple regression analysis, Classification to do predictive modeling, it includes Unsupervised Machine learning techniques like cluster analysis, Principal Component Analysis, segmentation profile analysis and association analysis.
Marketing has evolved from a creative process into a data-driven process. Marketing organizations use analytics to determine the outcomes of campaigns or efforts and to guide decisions for investment and consumer targeting. Demographic studies, customer segmentation, conjoint analysis and other techniques allow marketers to use large amounts of consumer purchase and panel data to understand and communicate marketing strategy. Web analytics allows marketers to collect session-level information about interactions on a website using an operation called sessionization. Google Analytics is an example of a popular free analytics tool; those interactions provide web analytics information systems with the information necessary to track the referrer, search keywords, identify IP address, track activities of the visitor. With this information, a marketer can improve marketing campaigns, website creative content, information architecture. Analysis techniques used in marketing include marketing mix modeling and promotion analyses, sales force optimization and customer analytics e.g.: segmentation.
Web analytics and optimization of web sites and online campaigns now work hand in hand with the more traditional marketing analysis techniques. A focus on digital media has changed the vocabulary so that marketing mix modeling is referred to as attribution modeling in the digital or marketing mix modeling context; these tools and techniques support both strategic marketing decisions and more tactical campaign support, in terms of targeting the best potential customer with the optimal message in the most cost effective medium at the ideal time. People Analytics is using behavioral data to understand how people work and change how companies are managed. People analytics is known as workforce analytics, HR analytics, talent analytics, people insights, talent insights, colleague insights, human capital analytics, HRIS analytics. HR analytics is the application of analytics to help companies manage human resources; the aim is to discern which employees to hire, which to reward or promote, what responsibilities to assign, similar human resource problems.
HR analytics is becoming important to understand what kind of behavioral profiles would succeed and fail. For example, an analysis may find that individuals that fit a certain type of profile are those most to succeed at a particular role, making them the best employees to hire. However, there are key differences between HR analytics. "People Analytics solves business problems. HR Analytics solves HR problems. People Analytics looks at its social organization. HR Analytics measures and integrates data about HR administrative processes," says Ben Waber, MIT Media Lab Ph. D. and CEO of Humanyze. Josh Bersin and principal at Bersin by Deloitte agrees that people analytics is a larger industry than HR Analytics, explaining, "… over time, I believe it doesn't belong within HR. While it may reside in HR to begin with, over time this team takes responsible for analysis of sales productivity, retention, accidents and the people-
The Nasdaq Stock Market is an American stock exchange. It is the second-largest stock exchange in the world by market capitalization, behind only the New York Stock Exchange located in the same city; the exchange platform is owned by Nasdaq, Inc. which owns the Nasdaq Nordic and Nasdaq Baltic stock market network and several U. S. stock and options exchanges. "Nasdaq" was an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers, which divested itself of Nasdaq in a series of sales in 2000 and 2001; the Nasdaq Stock Market is owned and operated by Nasdaq, Inc. the stock of, listed on its own securities exchange on July 2, 2002, under the ticker symbol NDAQ. The Nasdaq Stock Market began trading on February 8, 1971, it was the world's first electronic stock market. At first, it was a "quotation system" and did not provide a way to perform electronic trades; the Nasdaq Stock Market helped lower the spread but was unpopular among brokerages which made much of their money on the spread.
The NASDAQ Stock Market assumed the majority of major trades, executed by the over-the-counter system of trading, but there are still many securities traded in this fashion. As late as 1987, the Nasdaq exchange was still referred to as "OTC" in media reports and in the monthly Stock Guides issued by Standard & Poor's Corporation. Over the years, the Nasdaq Stock Market became more of a stock market by adding trade and volume reporting and automated trading systems, it was the first stock market in the United States to trade online, highlighting Nasdaq-traded companies and closing with the declaration that the Nasdaq Stock Market is "the stock market for the next hundred years". The Nasdaq Stock Market attracted new growth companies, including Microsoft, Cisco and Dell, it helped modernize the IPO, its main index is the NASDAQ Composite, published since its inception. However, its exchange-traded fund tracks the large-cap NASDAQ-100 index, introduced in 1985 alongside the NASDAQ Financial-100 Index, which tracks the largest 100 companies in terms of market capitalization.
In 1992, the Nasdaq Stock Market joined with the London Stock Exchange to form the first intercontinental linkage of securities markets. The National Association of Securities Dealers spun off the Nasdaq Stock Market in 2000 to form a publicly traded company. On March 10, 2000, the NASDAQ Composite peaked at 5,132.52, but fell to 3,227 by April 17, in the following 30 months fell 78% from its peak. In 2006, the status of the Nasdaq Stock Market was changed from a stock market to a licensed national securities exchange. In 2010, Nasdaq merged with OMX, a leading exchange operator in the Nordic countries, expanded its global footprint, changed its name to the NASDAQ OMX Group. To qualify for listing on the exchange, a company must be registered with the United States Securities and Exchange Commission, must have at least three market makers and must meet minimum requirements for assets, public shares, shareholders. In February 2000, in the wake of an announced merger of NYSE Euronext with Deutsche Börse, speculation developed that NASDAQ OMX and Intercontinental Exchange could mount a counter-bid of their own for NYSE.
NASDAQ OMX could be looking to acquire the American exchange's cash equities business, ICE the derivatives business. At the time, "NYSE Euronext's market value was $9.75 billion. Nasdaq was valued at $5.78 billion, while ICE was valued at $9.45 billion." Late in the month, Nasdaq was reported to be considering asking either ICE or the Chicago Mercantile Exchange to join in what would have to be, if it proceeded, an $11–12 billion counterbid. In 2005, NASDAQ acquirred Instinet for $1.9 billion retaining the INET ECN and subsequently sellin the agency brokerage business to Silver Lake Partners and Instinet management. The European Association of Securities Dealers Automatic Quotation System was founded as a European equivalent to the Nasdaq Stock Market, it became NASDAQ Europe. Operations were shut however, as a result of the burst of the dot-com bubble. In 2007, NASDAQ Europe was revived as Equiduct, is operating under Börse Berlin. On June 18, 2012, Nasdaq OMX became a founding member of the United Nations Sustainable Stock Exchanges Initiative on the eve of the United Nations Conference on Sustainable Development.
In November 2016, Nasdaq chief operating officer Adena Friedman was promoted to the role of CEO, becoming the first woman to run a major exchange in the U. S. In 2016, Nasdaq earned $272 million in listings-related revenues. In October 2018, the SEC ruled that the NYSE and Nasdaq did not justify the continued price increases when selling market data. Nasdaq quotes are available at three levels: Level 1 shows the highest bid and lowest ask—inside quote. Level 2 shows all public quotes of market makers together with information of market dealers wishing to buy or sell stock and executed orders. Level 3 allows them to enter their quotes and execute orders; the Nasdaq Stock Market sessions eastern time are: 4:00 am to 9:30 am premarket session 9:30 am to 4:00 pm normal trading session 4:00 pm to 8:00 pm postmarket sessionThe Nasdaq Stock Market averages about 253 trading days per year. The Nasdaq Stock Market has three different market tiers: Capital Market is an equity market for companies that have relatively
MUFG Bank, Ltd. is the largest bank in Japan. It was established on January 1, 2006, following the merger of the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. The bank serves as the core retail and investment banking arm of the Mitsubishi UFJ Financial Group, its traditional client base is made up of Japanese corporates, but overseas corporate lending increased 35% in the nine months to December 31, 2011. The bank has increased its tier 1 capital ratios from 7.76% in 2009 to 13.04% as reported in February 2012, its credit ratings have been unaffected by developments in Europe. Standard & Poor’s assigned BTMU’s most recent series of senior unsecured bonds an A-plus rating; as of 31 October 2010, MUFG Bank was ranked by Bloomberg as the largest bank in Japan and the eighth largest in the world. The bank's head office is in Marunouchi, Tokyo, it has 772 other offices in Japan and 76 offices overseas. MUFG Bank is the product of three bank mergers that occurred between 1996 and 2006. Mitsubishi Bank was founded in 1880 by a former samurai, Iwasaki Yatarō, was a core member of the Mitsubishi Group of companies.
It merged with The Bank of Tokyo in 1996 to form The Bank of Tokyo-Mitsubishi, Ltd. which at that point was the world's largest bank in terms of total assets. In 1998, upon merger of the second and third largest Swiss banks, Union Bank of Switzerland and Swiss Bank Corporation, the newly created UBS AG became the second largest in the world at the time, behind only the Bank of Tokyo-Mitsubishi; the Bank of Tokyo had focused on foreign exchange business since its foundation as the Yokohama Specie Bank in 1880, while Mitsubishi had had a stronger focus on domestic corporate and retail banking. Both banks were healthy in the wake of the Japanese asset price bubble; until the Tokyo-Mitsubishi merger took place in 1996, Sanwa Bank, based in Osaka and was the anchor of the Sanwa Group keiretsu, had been considered the strongest bank in Japan, it had aimed to be the world's largest bank during the "bubble era". By 2000, Sanwa was the fourth largest bank in Japan, it entered into merger talks with two other large banks, Asahi Bank and Tokai Bank, to create the world's third-largest bank by assets.
Asahi pulled out of these talks that year. By 2001, The Toyo Trust & Banking Co. had been added to the merger group and the combined company was to be called United Financial Holdings of Japan. The merger was completed in 2002 and the new bank was named UFJ Bank Ltd.. UFJ was headquartered in the historical headquarters of Tokai Bank. During its short life, it was plagued by bad debt problems and by infighting between the employees of its predecessor companies; the holding companies of BTM and UFJ agreed to merge in 2005, forming Japan's largest bank by assets and market capitalization. This led to litigation between BTM and Sumitomo Trust & Banking Co. which had agreed to an alliance with UFJ under which it would take over UFJ's trust banking operations. BTM and UFJ settled their dispute for 2.5 billion yen in late 2006. The merger of the two bank holding companies was completed on October 1, 2005, creating the Mitsubishi UFJ Financial Group; the core banking units of MTFG and UFJ Holdings, the Bank of Tokyo-Mitsubishi, Ltd. and UFJ Bank Ltd. continued to operate separately until January 1, 2006, when the two units combined to form The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Mitsubishi Bank and the Bank of Tokyo each had significant banking subsidiaries in California before their merger. At the time of the merger, these U. S. banks merged to form UnionBanCal Corporation. BTM listed UnionBanCal on the New York Stock Exchange in 1999. In 2008, BTMU purchased all of the outstanding shares of UnionBanCal. BTMU moved its New York-based banking operations to Union Bank and renamed the company MUFG Union Bank in 2014. BTMU was investigated by New York banking regulators over its role in routing payments for Iranian customers through its New York branch in violation of U. S. sanctions. BTMU settled with the state for $250 million in 2013. A second settlement was reached for $315 million in 2014 after it was found that PricewaterhouseCoopers had altered an investigation report on the issue. On April 1, 2018, the bank was renamed to MUFG Bank Ltd.. This name change aligned the bank name with the holding company name, Mitsubishi UFJ Financial Group, removing "Tokyo" from the name.
UnionBanCal Corporation Chong Hing Bank Morgan Stanley. On September 29, 2008, Mitsubishi UFJ Financial Group announced that it would acquire a shareholding in Morgan Stanley for US$9 billion. In the midst of the October 2008 stock market crash, concerns over the completion of the Mitsubishi deal caused a dramatic fall in Morgan Stanley's stock price to levels last seen in 1994. Morgan Stanley's share price recovered after Mitsubishi UFJ closed the deal on October 14, 2008. Bank of Ayudhya Official website Official website Official site MUFG "Company history books". Shashi Interest Group. April 2016. Wiki collection of bibliographic works on The Bank of Tokyo-Mitsubishi UFJ Media related to Bank of Tokyo-Mitsubishi UFJ at Wikimedia Commons
Visa Inc. is an American multinational financial services corporation headquartered in Foster City, United States. It facilitates electronic funds transfers throughout the world, most through Visa-branded credit cards, gift cards, debit cards. Visa does not extend credit or set rates and fees for consumers. In 2015, the Nilson Report, a publication that tracks the credit card industry, found that Visa's global network processed 100 billion transactions during 2014 with a total volume of US$6.8 trillion. Visa has operations across all continents worldwide with the exception of Antarctica. Nearly all Visa transactions worldwide are processed through VisaNet at one of four secure facilities; the data centers are located in Ashburn, Highlands Ranch, Colorado and Singapore. The data centers are secured against natural disasters and terrorism; every transaction is checked past 500 variables including 100 fraud-detection parameters—such as the location and spending habits of the customer and the merchant's location – before being accepted.
Visa is the world's second-largest card payment organization, after being surpassed by China UnionPay in 2015, based on annual value of card payments transacted and number of issued cards. Because UnionPay's size is based on the size of its domestic market, Visa is dominant in the rest of the world outside of China, with 50% market share of global card payments minus China. In mid-September 1958, Bank of America launched its BankAmericard credit card program in Fresno, with an initial mass mailing of 60,000 unsolicited credit cards; the original idea was the brainchild of BofA's in-house product development think tank, the Customer Services Research Group, its leader, Joseph P. Williams. Williams convinced senior BofA executives in 1956 to let him pursue what became the world's first successful mass mailing of unsolicited credit cards to a large population. Williams' pioneering accomplishment was that he brought about the successful implementation of the all-purpose credit card, not in coming up with the idea.
By the mid-1950s, the typical middle-class American maintained revolving credit accounts with several different merchants, inefficient and inconvenient due to the need to carry so many cards and pay so many separate bills each month. The need for a unified financial instrument was evident to the American financial services industry, but no one could figure out how to do it. There were charge cards like Diners Club, "by the mid-1950s, there had been at least a dozen attempts to create an all-purpose credit card." However, these prior attempts had been carried out by small banks which lacked the resources to make them work. Williams and his team studied these failures and believed they could avoid replicating those banks' mistakes. Fresno was selected for its population of 250,000, BofA's market share of that population, relative isolation, to control public relations damage in case the project failed; the 1958 test at first went smoothly, but BofA panicked when it confirmed rumors that another bank was about to initiate its own drop in San Francisco, BofA's home market.
By March 1959, drops began in San Sacramento. However, the program was riddled with problems, as Williams had been too earnest and trusting in his belief in the basic goodness of the bank's customers, he resigned in December 1959. 22% of accounts were delinquent, not the 4% expected, police departments around the state were confronted by numerous incidents of the brand new crime of credit card fraud. Both politicians and journalists joined the general uproar against Bank of America and its newfangled credit card when it was pointed out that the cardholder agreement held customers liable for all charges those resulting from fraud. BofA lost over $8.8 million on the launch of BankAmericard, but when the full cost of advertising and overhead was included, the bank's actual loss was around $20 million. However, after Williams and some of his closest associates left, BofA management realized that BankAmericard was salvageable, they conducted a "massive effort" to clean up after Williams, imposed proper financial controls, published an open letter to 3 million households across the state apologizing for the credit card fraud and other issues their card raised, were able to make the new financial instrument work.
The original goal of BofA was to offer the BankAmericard product across California, but in 1966, BofA began to sign licensing agreements with a group of banks outside of California, in response to a new competitor, Master Charge, which had be