Tag Archives: Shopping

People Turn Toward “Data Banks” to Commoditize on their Purchase and User Behavior Profiles

Anyone who is anti “Big Brother”, this may not be the article for you, in fact, skip it. ūüôā

 

The Pendulum Swings Away from GDPR

In the not so distant future, “Data Bank” companies consisting of¬†Subject Matter Experts¬†(SME) across all verticals, ¬†may process¬†your data¬†feeds collected from your purchase and user behavior profiles.¬† Consumers will be encouraged to submit their data profiles into a Data Bank who will offer incentives such as a reduction of¬†insurance premiums to cash back rewards.

 

Everything from activity trackers, home¬†automation, to¬†vehicular automation¬†data may be captured and aggregated. ¬† ¬†The data collected can then be sliced and diced to provide macro and¬†micro views of the information. ¬† ¬†On the abstract, macro level the¬†information¬†may allow for demographic, statistical correlations, which may¬†contribute to corporate strategy. On a¬†granular¬†view, the data¬†will provide “data banks” the opportunity to sift through data to perform analysis and correlations that lead to actionable information.

 

Is it secure?  Do you care if a hacker steals your weight loss information? May not be an issue if collected Purchase and Use Behavior Profiles aggregate into a Blockchain general ledger.  Data Curators and Aggregators work with SMEs to correlate the data into:

  • Canned, ‘intelligent’ reports targeted for a specific subject matter, or across silos of¬†data types
  • ‘Universes’ (i.e. ¬†Business Objects) of data that may be ‘mined’ by consumer approved, ‘trusted’ third party companies, e.g. your insurance companies.
  • Actionable information based on AI subject matter rules engines and consumer rule transparency may be provided.

 

¬†“Data Banks” may be required to report to their customers who agreed to sell their data examples of specific rows of the data, which was sold on a “Data Market”.

Consumers may have¬†the option of sharing their personal¬†data with specific companies by proxy, through a ‘data bank’¬†granular to the data point¬†collected.¬† Sharing of Purchase and User Behavior Profiles:

  1. may lower [or raise] your insurance premiums
  2. provide discounts on preventive health care products and services, e.g. vitamins to yoga classes
  3. Targeted, affordable,  medicine that may redirect the choice of the doctor to an alternate.  The MD would be contacted to validate the alternate.

 

The curriated data collected may be harnessed by thousands of affinity groups to offer very discrete products and services.  Purchase and User Behavior Profiles,  correlated information stretches beyond any consumer relationship experienced today.

 

At some point, health insurance companies may require you to wear a tracker to increase or slash premiums.  Auto Insurance companies may offer discounts for access to car smart data to make sure suggested maintenance guidelines for service are met.

 

You may approve your “data bank”¬†to give access¬†to specific soliciting government agencies or private firms looking to analyze data for their studies. You may qualify based on the demographic, abstracted data points collected for incentives provided may be tax credits, or paying studies.

Purchase and User Behavior Profiles:  Adoption and Affordability

If ‘Data Banks’ are allowed to collect Internet of Things (IoT)¬†device profile and the devices themselves are cost prohibitive. ¬†here are a few¬†ways to increase their adoption:

  1.  [US] tax coupons to enable the buyer, at the time of purchase, to save money.  For example, a 100 USD discount applied at the time of purchase of an Activity Tracker, with the stipulation that you may agree,  at some point, to participate in a study.
  2. Government subsidies: the cost of aggregating and archiving Purchase and Behavioral profiles through annual tax deductions.  Today, tax incentives may allow you to purchase an IoT device if the cost is an itemized medical tax deduction, such as an Activity Tracker that monitors your heart rate, if your medical condition requires it.
  3. Auto, Life, Homeowners, and Health policyholders may qualify for additional insurance deductions
  4. Affinity branded IoT devices, such as American Lung Association may sell a logo branded Activity Tracker.  People may sponsor the owner of the tracking pedometer to raise funds for the cause.

The World Bank has a repository of data, World DataBank, which seems to store a large depth of information:

World Bank Open Data: free and open access to data about development in countries around the globe.”

Here is the article that inspired me to write this article:

http://www.marketwatch.com/story/you-might-be-wearing-a-health-tracker-at-work-one-day-2015-03-11

 

Privacy and Data Protection Creates Data Markets

Initiatives such as¬†General Data Protection Regulation (GDPR) and other privacy initiatives which seek to constrict access to your data to you as the “owner”, as a byproduct, create opportunities for you to¬†sell your data.¬†¬†

 

Blockchain: Purchase, and User Behavior Profiles

As your “vault”, “Data Banks” will collect and maintain your two primary datasets:

  1. As a consumer of goods and services, a Purchase Profile is established and evolves over time.¬† Online purchases are automatically collected, curated, appended with metadata, and stored in a data vault [Blockchain].¬† “Offline” purchases at some point, may become a hybrid [on/off] line purchase, with advances in traditional monetary exchanges, and would follow the online transaction model.
  2. User Behavior (UB)¬† profiles, both on and offline will be collected and stored for analytical purposes.¬† A user behavior “session” is a use case of activity where YOU are the prime actor.¬† Each session would create a single UB transaction and are also stored in a “Data Vault”.¬† ¬†UB use cases may not lead to any purchases.

Not all Purchase and User Behavior profiles are created equal.¬† Eg. One person’s profile may show a monthly spend higher than another.¬† The consumer who purchases more may be entitled to more benefits.

These datasets wholly owned by the consumer, are safely stored, propagated, and immutable with a solution such as with a Blockchain general ledger.

Barter Functionality on Point of Sale Devices

Highly configurable Point of Sale (POS) device, when the words “Is it OK to charge you XXX.XX USD, Yes or No, you may select NO, and then a barter process may start. For example, if the total purchase price is above a certain threshold, e.g. 100 USD, their store loyalty card has N number of previous transactions from you, and the items in the cart are specified that there is additional margin to ‘remove’, the POS may display an alternate amount to charge the customer, a bartered price, cutting into the store margin for each item. However, based on the frequency of the shopper, the total price of the cart, and the amount of margin that is available to be removed, or shaved off, an alternate price may be displayed to the shopper.

 

Holograms, bio-sensors will change how you shop: Intel – Behind the Storefront – MarketWatch

Holograms, bio-sensors will change how you shop: Intel – Behind the Storefront – MarketWatch.

I saw a similar technology earlier in the year at the CES 2013 show.  It was very appealing to visualize the object in three dimensions.  They were advertising it as another store case; however, as the article arrives at the same conclusion I did, although it is a nice to have in the store, it would give a significant advantage to the home shopper.  I am not sure that the price point, at least at the CES 2013 show was amenable to the everyday shopper at home;  however, if, for example, you joined a program, like an Amazon Prime, where you were a frequent shopper, it would be worth the value for the vendor to provide you the 3D hologram display for either a small lease fee, or available to the consumer for a small security deposit fee, to be provided back once the unit is no longer of use to the shopper.

Ride the Near Field Communications Wave

At the 2013 Computer Electronics Show, there were only a few vendors touting Near Field Communications (NFC) technology integrated into their products, that I could see, and I did try to get to as many booths as possible. ¬†Last week I mentioned people in Korea use NFC business cards to exchange and play music on their devices. ¬†After that post, I did see a company’s tweet saying they were going to get into the distribution of NFC cards to store music, movies, and more, as the advertisement stated. ¬†The benefits of this technology over Bluetooth simply low / near null power signature, inexpensive relative to the Bluetooth technology, and the potential shortcoming is it has a very short range. ¬†Smartphones equipped with NFC can be paired with NFC tags or stickers which can be programmed by NFC apps to automate tasks. ¬†¬†NFC always involves an initiator and a target; the initiator actively generates an¬†RF¬†field that can power a passive target. This enables NFC targets to take very simple form factors such as tags, stickers, key fobs, or cards that do not require batteries. NFC peer-to-peer communication is possible, provided both devices are powered.¬†NFC tags contain data and are typically read-only, but may be rewriteable. ¬†I also had a conversation with someone that implied the storage on the NFC tags may be limited, so an easy workaround would be to store unique keys, such as a reverse domain name, and other pointers to data in a structured storage data web cloud, which is hosted by any number of verticals.

In this post I wanted to highlight a few potential uses. ¬†Unfortunately, this is the second time I am writing the blog post because the first one didn’t get saved. ¬†Annoying!

Automobile Servicing

Instead of the sticker a car dealer, or your mechanic, may put in the top left hand corner of your window to remind you to change your oil at N miles or Z months, an NFC sticker can be encrypted with your car’s VIN number, the complete required and suggested maintenance for the vehicle, as well as when and by who these services were completed. ¬†The NFC Sticker may be placed in the console where you might place your smartphone.

Food Storage, Food Savings

On your refrigerator, you may place an NFC Sticker, that is overlaid on a magnet.  Every time food is removed or placed in a refrigerator or pantry, you can swipe the food NFC tagged with the cooperation of the food manufacturer.  An average usage model can be derived and encoded on the tag, as well as a proximity timer.  If the food item, such as milk, is not returned to refregerator within a given period of time, a notification on your smartphone, and/or a depreciation counter can be reprogrammed on the NFC tag to indicate approximate usage.  Once the item needs to be restocked, or placed back, a notification may appear on your smartphone, and/or added to your shopping list.

Books, Music, and Movie Samplings from a Store

If you’re in a store, and pass by a book, music CD or movie DVD, an NFC tag may contain a URL to download a PDF sample of the book, a music track from the CD, only available in stores through use of the NFC tag, or bonus material from a movie that only can be accessed through the NFC tag in stores to drive traffic into a store. ¬†I specified a URL to link to the content because the current specification seems to limit the amount of storage on the NFC tag, however, specs can change, and I might be a bit conservative on the amount of storage necessary, but with a ‘secure cloud’, the storage shouldn’t be a factor. Any information on the NFC tag can simply be pointers to unique keys to data in tables within the cloud, such as a VIN number, or other generated unique keys.

Accessory Matching

Imagine your in a store by yourself, and trying on an article of clothing, if the dress, pants or skirt contains an NFC tag, you can touch it with your smartphone, which links you to either advisors or AI,  perhaps sponsored by a fashion magazine, that may provide you with with ideas to match that article of clothing, such as complementary accessories.  This could be accomplished through a video camera, front facing camera, perhaps ads float across the bottom of the screen, and/or it could be a subscription service.

 Meeting People / Dating

If you find yourself in a crowed bar, or party, and want to exchange information with someone you just met,  you have an NFC tag or sticker placed on the back of your hand, or on your purse, when bumped, will automatically exchange a brief bio, picture, likes, interests, and an email address.  If your smartphone is GPS compatible, the data is loaded onto your smartphone with the captured NFC tag data in addition to the location, so you never ask, so where did I meet this guy again?

Supply Chain Management and Shortages

Every person in the supply chain from manufacturer to retailers may have an NFC tag embedded within their employee identification tag, and as each individual handles the product or package, they swipe their card to the other NFC tag, and their employee unique identifier, along with date time and location (optional) may be rewrite the tag to append the new information.  This may prevent product shortages, as well as help further optimize the supply chain.

 

Near Field Communications & WiFi Lure B&M Window Shoppers

I read articles today about free Brick and Mortar in store WiFi to utilize tech to enhance in store experiences. Another article I read about Nike embedding tech to enhance their products echos manufacturers might want to continue to pursue embedding chips, such as Near Field Communications (NFC) in conjunction with in store WiFi to offer both programmable manufacturer rebates as well as in store sale offers turning window shoppers into sales.  WiFi  would not just entice the prospective shopper, but also provides manufacturers with the ability to update rebate offers as seasons and styles are shifted to help move stock.  A win for the consumer, manufacturer, and retailer.