Professor Irene Ng, Uni of Warwick, discusses the power of data wallets in addressing targeted advertising and data privacy concerns. By giving individuals control over their personal data, businesses can offer more relevant and personalized experiences.
that match them with suitable offers from partners . This results in a two-sided network of partners and consumers, promoting healthier lifestyles while allowing users to protect their personal information as they see fit.
Ultimately, it creates a supply that can fulfil the demand of data. As Irene says,"We enable data to function, move and create markets and we give a lot of advice as to how to engage your customer for the journey of their wallet." Ultimately, companies will no longer look at data as something they've collected away from the customer, but as a way to directly offer something to them in a more meaningful way.
Ensuring data accuracy and consistency is another challenge that must be addressed. While the Dataswyft data wallet makes it easy to copy the data, it doesn't force existing database holders to make sure they have your most up to date data, potentially leading to ineffective marketing campaigns and poor customer experiences due to outdated or inaccurate information .
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