In which situation would a business likely use Level 3 data?

A business would likely use Level 3 data primarily for high-volume transaction reporting and cost analysis due to its enhanced data capabilities. Level 3 data includes detailed purchase information such as line-item details, product descriptions, quantities, and extended prices. This comprehensive data set allows businesses to analyze transaction patterns, manage expenses, and improve reporting accuracy.

Moreover, using Level 3 data can also lead to lower interchange rates for card transactions, especially for B2B purchases, making it economically advantageous for businesses that process a significant volume of these transactions. The depth and detail of Level 3 data provide insights that support strategic decision-making and financial analysis, which is particularly beneficial in environments with frequent, high-volume transactions.