LONDON, June 17, 2019 /PRNewswire/ -- Measure Protocol, a blockchain-powered marketplace for person-based data, unveils results from a pilot program which put blockchain technology to practical use for a number of market research leaders. The pilot set out to demystify the application of blockchain within market research, illustrate the technical workflow, display the transparency provided by the blockchain, and understand the user behaviors and attitudes in this environment.
"Blockchain holds immense potential as the new age technology that could transform the data measurement and overall research industry ecosystem," says Justine Yorke, Global Consumer Insights Operations Leader at Nielsen. "We are delighted that the trial with Measure Protocol allowed us to see the potential of how blockchain technology can be utilized in survey research. We at Nielsen see a lot of potential in harnessing this cutting-edge technology for deploying in our survey research solutions."
Measure's pilot program consisted of eight pilot partners including research agencies, brands and panels. The pilot partners included: Nielsen, MMR, Kadence International, Incite Marketing Planning, Delvinia, Kantar Profiles, Hall & Partners and Future Thinking.
A select number of diverse consumers participated using the Measure MSR iOS app to engage in the program. The four-week long pilot program included more than 6,500 completed data jobs and achieved a 92 percent completion rate. Data jobs included participating in surveys, completing profile requests, and enabling passive data sources, such as location and purchase history.
The pilot revealed how blockchain works on a practical level from both the market research industry and respondent perspective, as well as its impact on engagement, quality, consumer trust and transparency. It proved that data collection can be accomplished efficiently without a centralized database to operate data collection, while concurrently boosting consumer privacy.
Some of the key takeaways from the program included:
- Privacy concerns are real: 77 percent of pilot participants stated they would share more data if they felt organizations were being more transparent about how they are using their data
- Engagement is high: 44 percent of participants who responded to notifications did so within the first 15 minutes, a fast response time due in part to the immediacy of the mobile environment and the end-to-end experience
- Transparency and privacy encourages sharing: 78 percent of participants were willing to enable and share passive behavioural data sources, and 83 percent felt their privacy was protected while using the Measure app
- Compensation and rewards are vital: 85 percent were satisfied with the offers received during the pilot, illustrating the benefits of rewarding respondents fairly for their time and commitment
- Direct and transparent feedback uncovers survey quality: Every user participated in the opportunity to rate every data job and provide transparent feedback to partners, with four and five-star ratings given primarily for 'easy to understand' and 'short and simple', and one-star ratings given for small payment amounts.
"The pilot provided promising results that help establish the role of blockchain in market research. It highlighted the value of giving people more control and privacy over their personal data while providing the industry with unprecedented levels of transparency. This unique combination is valuable for addressing fraud and data quality in the industry," said Jon Puleston, vice president of innovation, Kantar Profiles Division.
About Measure Protocol
Measure was founded in 2018 by a group of media, ad tech, and market research technology veterans. Created to help consumers take ownership of their data and address data quality issues for buyers, Measure is an open blockchain-based protocol that facilitates a marketplace for person-based data where individuals take control of their data and monetize it directly with researchers, advertisers and brands. Consumers contribute data by completing surveys and other data-generating tasks or by providing access to existing data sources such as health and location. Founded on principles of data sovereignty, privacy, transparency and fair compensation, Measure provides an ecosystem that addresses challenges faced by the market research, advertising and AI industries. www.measureprotocol.com @measureprotocol
Media contact: Marie Melsheimer, [email protected], 541-815-3951
SOURCE Measure Protocol