You reckon doing market research surveys is boring? We agree and UBDI gives you a new way forward!
Let’s face it, the market research industry has been plagued by long, poorly rewarded surveys, inaccurate data and declining response rates for far too long.
Can you remember the things research asks you?
There is also enormous reliance on the memories and recollections of research participants. Can you remember how much you spent at the supermarket last week? I have a vague idea but I certainly couldn’t give you an exact number.
I also couldn’t tell you if I’ve posted something about a particular brand on social media, or recall how many steps I walked last week … or even yesterday.
But research surveys ask me these types of questions! And strategic decisions are made on the answers I give. I don’t purposely lie about the things I am asked. I try my best. But I am flawed and my memory doesn’t hold this level of details on all of my daily transactions.
So the market research industry needs to fix some pretty fundamental issues:
- There should be less reliance on recall
- There should be a stronger focus on building real behavioural data into research solutions
- Surveys must be shorter and sharper
- Participants should be rewarded better
Just these things as a start point should deliver better data quality.
What about Data Privacy?
Let’s also think about the data privacy environment. Everyday people trade their data for free services such as Facebook, Google, Twitter and other social media services. There isn’t much consideration given to the value of the data that is traded or how the organisations that use this data are able to profit handsomely from it.
UBDI is a data monetisation app.
Via data infrastructure app digi.me, you can connect various online data sources (social media, lifestyle, fitness, financial) and save this data to an encrypted data vault. UBDI can, with your permission, pay you to share some of that data with companies, researchers, not for profits.
This allows people to take part in the data economy, which they have to date been shut out of.
No longer is that power held by a few monopolies! Every single person can decide what to share and when to share it. And be rewarded by doing so. Some people will make hundreds of dollars per year, while others may make thousands. The opportunity is vast.
UBDI and digi.me do not see, touch or hold your data. If you swipe to give consent for your data to be used, it is anonymised on your device, aggregated at the back end and then shared with the researchers and companies who are paying you for it.
UBDI also includes a survey programming tool that allows survey data to be married with broader behavioural data, providing rich insights to companies and researchers. Richer than has been possible to provide before. The power in the data is that it offers 5 key benefits:
- It is single source, avoiding complications and errors from multi-source correlation
- It is wide, multi-dimensional across all personal data categories eg social, health, finance, wearables, media, purchases, web browsing, etc
- It is deep in time, longitudinal (even lifetime eg health)
- It is accurate, direct from source and validated, not second hand, inferred or based on recall
- It is compliant with privacy regulations
This is the new future of the market research industry!
It overcomes all of the issues identified earlier in this piece, and brings about a host of other benefits to consumers. Finally research participants are being rewarded appropriately.
Be part of the action and sign up on the Appstore and Google Playstore.
Email us for further information:
Veronica Mayne – MD Faster Horses and UBDI representative Australia (firstname.lastname@example.org)
Peter Fairbrother – MD Faster Horses and UBDI representative Australia (email@example.com)