Companies are storing greater bits of data than ever before. So much so, that 4 Vs have been identified within the field of Big Data. These are- Volume, Velocity, Variety and Veracity. While the first three are well-known and leading to business gains, not much has been done about the fourth V. Veracity stands for reliability, accuracy and transparency. Sadly, ad fraud is not uncommon. A report by Forrester claims that more than half the ads may be of dubious veracity. The total value of ad fraud may rise to a hefty fifty-billion US dollars over the next decade. Customers too get overwhelmed by the excessive digital marketing and promotions by brands through different channels such as email, messages, ads and coupons. Blockchain is thus, one of the best options to ensure that ads sent are optimized. Brands may not understand their customers that well, but the algorithm is unlikely to get things much wrong. Customers happily share their data provided they get good deals in return. Blockchain also provides telecom players such as Verizon or AT&T to compete with digital natives such as Amazon or Facebook.

Source:ttps://hbr.org/2018/05/what-blockchain-could-mean-for-marketing

Uploaded Date:01 June 2018