We were pleased to announce some of the high level results of our pilot program this week. Check out the full news release below for details on the project.
Measure Protocol reveals results of first industry-wide blockchain pilot program for market research
Conducted in partnership with top market research organisations, program illustrates practical application of blockchain technology; establishes path to increased transparency and privacy for consumers
17 June 2019 - London, United Kingdom - 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.