“Data in X”: X=Social media
— With social media being a key part of company’s marketing mix
“Social marketing eliminates the middlemen, providing brands the unique opportunity to have a direct relationship with their customers.” — — Bryan Weiner, CEO, Comscore
With the development of the Internet and the upgrade of mobiles, UGC (user-generated content) exploded. The social network developed fast and people can produce content and share information with others freely. Therefore, lots of data is produced.
By collecting social data like follower lists, introduction, thumbs, comments, and reposts, and setting some models to analyze the consumer behaviors, companies can effectively and securely dig out the hottest fields that users now interested in, and the popularity of some product, together with the market scale the promising prospect, and the social relationship s among people. Social information improves the accurate promotion and marketing and can make an acute sight into the future, helping the industry research.
However, in the process of data mining, privacy issues have emerged and become more and more urgent. As governments from all over the world highlight the healthy use of data and people’s awareness of protecting privacy increases, there is no doubt that later data will return to individuals, rather than be arbitrarily controlled by centralized platforms. On the road of social data mining in the future, on the one hand, companies must provide users with more high-quality services, and on the other hand, they must also pay attention to the use of their private data in a reasonable and compliant way, protecting users’ privacy from leakage and resales. Only the commercial companies that meet users’ needs and data security can produce sustainable commercial interests. Therefore, with privacy computing, data being available to be used but invisible — companies only obtain the results after processing, and cannot access the original data itself — attaches great significance in our age of Big Data.
But while selling the use rights of the data, it is hard to decide the volume and price on our own. Fortunately, with the development of science and technology, on the blockchain we can achieve effective and convenient issue data tokens, which is the access certificate to our data usage. These tokens are flowing on the blockchain whose history is traceable and immutable, greatly prevent malicious intention.
Social Data in Auth3
Auth3 has effectively realized the credible and safe collection and processing of social data through the combination of blockchain and privacy computing. Let’s take a look at a few specific social scenarios:
1. Data project A managed by the data operator aims to collect follower lists on Twitter. Data providers give permission to access to their Twitter accounts and add to the project. Tesla, as a data consumer, wants to pushes ads of Tesla’s high-end cars to users who are extremely interested in cars. The user’s followers in Project A can help filter out the user’s hobby areas. So Tesla buy the data token of Project A and obtained the right to use the data of Project A. Then Tesla uploaded an algorithm according to its specific needs — aims to get users (supercar lovers) who follow more than 10 car bloggers — The calculation process is carried out in the TEE environment, which is secure and reliable.
2. The data operator of Data project B cooperates with Nike, also as the data consumer. Therefore, Data project B does special operations, aiming to collect Twitter users’ likes, comments, reposts, and the following time period for Nike’s official Twitter. Data providers give permission to access to their Twitter accounts and add to the project. Each event has different discounts and target audiences, so data of project B will be computed using different algorithms in different periods.
For example, Nike celebrates its anniversary, and the goal is to thank old users. For users who have been following Nike for more than 2 years and account for the top 500 in a total number of likes and comments, Nike will issue digital NFT and limited sneakers for its anniversary.
While changing seasons, the discount is smaller, and Nike hopes to attract a wider audience and isn’t limited to new and old users. Then, users who like Nike’s official tweet more than 20 times can get a discount of 20%.
When Nike’s new product is launched, they hope to frequent customers or customers with high potential of consumption. Then for users whose likes for Nike official twitters are more than 15 in 1 year, Nike will prize them with a 9.5 discount coupon.
(But these examples above are only idealized scenarios, normally companies should analyze data with the combination of external social media and internal sales. But this analysis is kind of complex, so here we simplified the data processing.)
Therefore, in the context of increasingly strict laws, it becomes more and more difficult for centralized platforms to use data. On the contrary, Auth3 develops more vigorously, and effectively integrates information from multiple different platforms, greatly enriching the diversity and creativity of data analysis results.
With Auth3, individuals can secure their social data and make it flow safely and fast without privacy being exposed. And businesses can efficiently get access to reliable social data, and make a more secure and flexible data processing. With the underlying support of Auth3’s privacy computing and blockchain technology, the ecology of data flow and utilization has become healthier and more sustainable, enabling the optimal allocation of resources while satisfying the interests of all parties.
Telegram Group: https://t.me/Auth3Network