Monetizing Data – Consumer Trust

Monetizing Data – Consumer Trust

Enterprises like banks, telecom providers, social networks and retailers are gathering huge amounts of data and becoming aware of their under-utilized potential. The conditions for data monetization are right, but one should be careful not to alienate its customers.

With Opacity, the enterprise looking to monetize its customers’ data can provide data to advertisers to feed their campaigns in an auditable manner, enhancing the trust by advertisers resulting in a higher valuation for the data. On the other hand the enterprise provides feedback to its customers on how their data is being used. Furthermore, it can also offer its customers to sign up for topics of their interest. Such companies will have a competitive advantage over companies that 'promise' that they will treat your data with all due care.

The end-result is a more transparent ecosystem between advertisers, enterprises and consumers, which improves consumer trust in online experiences, ultimately benefiting all parties involved.

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