Access to big data analytics, previously a very expensive tool, reserved for the corporations and public institutions that can afford it, has been tokenized and can be purchased on the Blockchain, according to your needs. Like buying a slice of pizza instead of a full-size one.
Big data analysis is used extensively worldwide, for retail and marketing purposes, but its use on the blockchain is limited by its safety and tamper-proof nature. You can use analytics to correlate transaction information with the browsing behavior of your clients, in-store shopping trends, their product preferences, and more. The analysis can also incorporate external data, like social media traffic, to assess customer sentiment and behavior. The results of big data analytics are truly impressive, but so are the costs. For this reason, companies prefer to use generalized tools to conduct their marketing strategy.
Sether enters the Blockchain
Sether is made by mWare, which is essentially a big data service provider. The Big Connect big data platform is used by our clients for public security, retail marketing, and business planning. Aside from social network data collecting and the validation trough smart-contract APIs, Sether also offers the possibility to analyze this data and put it to use in your marketing and development strategy, campaigns, or to develop new services to offer.
Any business can do that by using SETH, the Sether token, to purchase a number of API calls to use when collecting data from social networks. This will be subscription based. And, to really understand what big data tokenization means, you have to know that a big data platform for an enterprise has 6 digit costs, while a basic Sether subscription, containing 25.000 API calls per month, costs 30$. Thirty Dollars.
The relation between Big Data and marketing
Sether provides data analysis service and artificial intelligence. For a retail blockchain business, everything revolves around your customer’s possibilities, preferences, and habits. As a reactive post-factum analytic approach, using behavior and sentiment analysis tools provided by Sether, you can gain precious insights by monitoring and correlating customer behavior on social sites, their shopping trends, their previous transactions and their likes and dislikes about their experiences.
How the Smart Ledger Technology can take all of this, and drive it even further
Proactively, you can be asked to like a certain page or be part of a group or community as part of your involvement agreement. These actions can be validated in the blockchain using Sether by checking his actions against social networks. It’s how big data connects with the blockchain to create something new, the possibility to automatically make a profitable arrangement with your client.
If there was a time to combine big data with the blockchain, it’s now, as result benefits both clients and the business that uses the system.