ID resolution has been the talk of the business community for several years now. Major companies such as JD.com, China’s largest retailer, have experimented with this technology already and seeing extraordinary results. These “pop up” stores as the company call them are being placed in dense tourist areas where they can test how well their ID resolution works. These stores offer tourist basic need products such as toothbrush, shampoo, and toiletries. The built-in technology allows consumers to simply walk up and be given a tailored experience where the store will not only provide the desired product but attempt to recommend other products that the consumer might like according to their past intent.
Identity Resolution helps take analytics to the next level, essential data for companies seeking to grow. What ID resolution essentially does is zero in on a companies core consumer, providing them with not only a tailored experience but a more substantial ROI or return on investment for that particular company. Companies are now in a rush to test and perfect this technology due to the fact that consumer marketing has become more difficult as more and more people opt to purchase multiple devices. ID resolution can help companies organize and recognize the identity of all these new devices. Therefore, when a customer begins to shop around with various devices, ID resolution can see that although multiple devices are being used for transactions, the person has not changed. Without this up and coming technology, companies will have a hard time keeping track of their core base and therefore will suffer from being outdated.
So, how does this new technology receive data? Consumers are presented with various stages of consent forms that when marked begins to collect information about the consumers spending habits, even to their preferred payment method. Multiple states in the United States have now started to create laws protecting consumers from being taken advantage of. This includes making sure that companies are being clear and transparent about the information they will collect and how they are going to use it. These new laws have slowed down the spread of this technology with many high-level executives calling for significant investments in order to provide their own forms of consent to consumers. As of this year, Europe’s General Data Protection Regulation has begun to pass their own forms of regulations that can hinder the spread of this technology across not only America but some of the largest markets around the world.
Due to the increasing amount of legislation against ID resolution technology, a significant shift has begun in the way companies collect data. No more will they track the geographical location of a set of consumers but will focus their resources on perfecting technology that can show user intent. This will aid in ending the need to ask consumers for personal information. This new technology, however, will not replace modern analytic strategic but become apart of the process that companies will have to incorporate into their yearly plans.