dataMKT
Consumer Data Exchange
MKT
Nick Lyons + Nirkhunan Govindan
Background
Problem Statement
There is immense value creation in the personal data market, but consumers are often excluded from any value capture.
dataMKT
A platform designed to give individuals greater control, transparency, and value from their personal data.
MKT
Data Monetization
According to a report by McKinsey, the global personal data market was estimated to be worth over $300 billion in 2020, with projections indicating continued growth in the coming years.
“I would love if somebody is monetizing on this information on my behalf,
why can’t I monetize it? Why can’t I participate in a marketplace on my own behalf? People take all sorts of jobs to make ends meet.”
- Lizzy H, Product Manager
Why now? 79%
A majority of Americans report being concerned about the way their data is being used by companies
Data creat on and collect on s exponent ally ncreas n
Data brokers collect an average of 1,000 data po nts on each nd v d al w th an onl ne presence.
Research and Testing
Data Market Landscape
Consumers (Data Subjects)
People that have an online presence includin hoppin
ocial Media
Stakeholder Groups
Partners (Brands/Retailers)
Brands to power “C360
Retailers to enhance their data for Retail Media Networks
Insights about Consumers
Consumers are unable to engage equitably due to the psychology of time in decision making.
Consumers want visibility into how their data is being used.
Consumers want the ability to make choices on their data.
”And, you know, maybe it's points on my credit card. I would like to know what it is and then be able to choose to opt in or out.”
Dahlia L., Program Manager
Insights about dataMKT
Users need time to reconcile the idea of “data as money”
Users related the product to other market leaders.
Users loved the ability to see and make choices, but some concepts require guidance.
“Like, this kind of makes sense...it kind of reminds me of kind of like, some of the offer things like on
JetBlue site or like a credit card site.”
Zach G., CEO
MVP
User Defined Data Sharing
Ability to transparently see where ata is being share
Re oke access to ata sharing
Consumer Data Value Dashboard
Show consumers the alue of their ata Opportunities to increase alue capture
Real-time Consumer Data Marketplace
Prov d cl ar opportun t for cu tom r to ga n D count , R ward
Conclusion
Value for Partners
Brands
V r f d consum r data d r ctly from th sourc
N w touchpo nt to ngag w th custom rs
Retailers
ompar th r data to data suppl d by consum r
Enr ch th r data w th add t onal l m nts.
More Transparency
Value for Consumers
Enable User Action
Gain Value from their Data
Opportunity
Disrupt the $300 Billion Data Market
Create opportunities to open participation across consumers, resulting in people gaining value from their data. dataMKT will pioneer data exchange
Thank You! MKT
Post-MVP Roadmap
Consumer Insights for Partners
Consumers Partner experience for brands/ retailers to understand their relationships with consumers to power their C360
Loyalty/Rewards Account Integration
Consumers
Based on user feedback they desire a clean integration with existing accounts and relationships with businesses