The Future of Your Personal Data — Privacy vs Monetization
Have you ever asked yourself how your personal data is used?
“Customer information has always been central to any CRM strategy, but the growing wealth of information from digital channels — from social media, location and context-sensitive data collected from mobile, and the Internet of Things (IoT) — radically expands the scope of the 360-degree customer profile,” said Olive Huang, Gartner Research Director.
In a world where data is created at rates faster than ever its ownership is gaining importance. It isn’t only organizations who understand its value. Consumers are becoming more aware of their data’s value and they are less willing to give companies their sensitive data for free.
What if consumers could turn the tables by offering their data directly to the companies they trust? The future would be monetized customer data.
This shift from data ownership to data usage will require organizations and consumers to start thinking differently about their data. Organizations can look for new business models to better serve their customers, while consumers can think about how much their privacy is worth.
OSA DC is turning the existing marketplace into a decentralized solution uniting various parties around the globe, which are disconnected today. We are uniting the forces of great minds around the planet, and billions of consumers to create an era of smart consumers.
Collecting fragmented data from the entire supply chain and using machine learning to process, analyze, and clean it -– this is the OSA DC main strategy on how to equalize retail business processes and all parties in it.
Smart contracts protect interests of both data providers and consumers, as a unique set of KPIs, product ratings, and rewards are stored on the blockchain to secure them from manipulation. To ensure transparency, OSA DC offers a clear and simple solution: consumers will become one of OSA DC’s most valuable data providers, and they’ll have access to the same rights as any other data providers on the platform.
The Consumer now becomes a decision maker, using their own data to lower prices, stimulating retailers to provide a better product quality, better delivery, and better service.
Finally, consumers will have the ability to find available products listed on the platform based on their individual requirements, whether these come from diet, budget, etc.
Every product category has a wide range of product attributes, features, and specifications (e.g., organic, biodynamic, gluten-free, kosher, salt or sugar- free, safe for children, safe for pregnant women, no artificial flavorings or specific allergic components, manufactured without child labor, fair-trade, eco-friendly), and OSA DC finds them across the myriad providers and retailers on its marketplace.
OSA DC works with associations representing suppliers, consumers and retailers to create shared standards for data sharing to boost supply chain efficiency. Customer data creates the basis for alerts and forecasts for other customers, a practice which is compliant with international data privacy laws.
OSA DC is building a world, where consumers have real influence on the retail industry.
