How Does MEDIA Protocol Improve Analytics? What Are The Flaws In Current Approaches?
Data analytics are big business, mostly because data in its raw, unprocessed state doesn’t carry enough meaning for most companies. Analysing the data to pick out trends, patterns, and key decision-making information is a valuable service.
The major players offering this service include behemoths like Google and Facebook. But, as with anything relating to those names and data, customers are beginning to ask if these are the best options when it comes to handling often sensitive information.
Where Are The Current Flaws?
The biggest source of flaws and limitations is rooted in the third-party nature of data handling that most analytics services rely on.
Firstly, they’re slow.
As discussed in our posts on Big Data, customers are using services constantly and to catch them while they’re active, you need real-time responses. The velocity of that data means that waiting hours for Facebook or Google to process and release it to you can render some of the insights obsolete. Real-time services from existing providers are available, but at a premium.
Lack Of Control
Google Analytics, for example, doesn’t provide the log files with their analysis. That’s part of your site’s data that you don’t have access to. It also means you’re missing relevant information for comparison in the event of redesign or other major changes.
Can You Trust The Data?
Data, currently, can’t be fully traced; including where it originated from. Essentially, a company relies on the analytics provider to tell them the truth based on ‘good’ data, but have no way of verifying if that’s the case.
Identifying real customers, human ones making genuine actions and transactions, is not guaranteed. Data generated by bots and spiders is likely to be included in the calculations, presenting a skewed picture.
Storage And Control
Using third-party analytics services means handing everything over to a full-service company, who then controls that valuable data, rather than the customer. They’re also storing that data on centralised systems, readily targeted by hackers and other attacks.
The alternative to the existing system is to split your analytics across a host of single-service providers: one to collect and manage the data, another to integrate and offer cloud storage for the data, and yet another to provide the front-end services (that’s all the pretty visualisations used to make sense of the data).
There has to be another, better way, surely?
How Is MEDIA Protocol Different?
That’s where MEDIA Protocol comes in.
Based on blockchain, the data is decentralised. That means no one place for hackers to target.
Remember how every transaction is recorded on the blockchain? This means it can’t be effectively tampered with, and that every change right back to the origin of the data is recorded.
Even better, bogus data, or data that’s been deliberately tampered with, will be automatically excluded by the blockchain. You don’t have to weed out the bad information yourself.
The blockchain also harnesses a large amount of computing resources, making it scalable according to demand. That tackles issues of data volume and the velocity mentioned above.
MEDIA Tokens (MPT)
You may recognise these as utility tokens. They can be used across any platforms running the protocol.
Users can earn rewards while using these traceable tokens to provide information on their browsing habits and interactions with content.
The best part is that they’re being used by verifiable, real human users. Bots are weeded out. As users gain rewards in exchange for their interactions being trackable, the analytics is therefore based on real, verifiable data.
That means all the quality data you need to make the best, most accurate decisions possible.
Does This Improve Analytics?
In a word: yes.
How?
- Make decisions based on verifiable, accurate and meaningful data.
- Handle the sheer amount of incoming data more efficiently.
- Get the necessary information at a speed that allows you to be responsive to your customers in real-time.
- Keep that competitive edge, and stay secure. Why hand over some of your most valuable data to a third-party? Especially when they’re still working on centralised, easily hacked systems.
Step outside the limitations of current analytics with blockchain. MEDIA Protocol believes in working with the best quality data, in timeframes that make sense and keep up with demand. Keep control of your data and have faith in its security, too.
For more information regarding MEDIA Protocol, find us on our social channels below:
Website: www.mediaprotocol.org
Facebook: https://www.facebook.com/MEDIAProtocol
Twitter: https://twitter.com/MEDIA_Protocol
LinkedIn: https://www.linkedin.com/company/media-protocol/
Telegram: https://t.me/Media_Protocol_Community and https://t.me/MP_Announcements
Medium: https://medium.com/@mediaprotocolsm
YouTube: https://www.youtube.com/c/MEDIAProtocol
