1. What Is AesirX Analytics?
AesirX Analytics is a tool developed by R Digital to assist website administrators in easily managing the performance of their website and providing suggestions for improvement and efficient development. AesirX Analytics operates by measuring, analyzing, and reporting data on website traffic and user behavior. The data provided by this tool is committed to being completely accurate and is collected with the consent of website visitors.
AesirX Analytics integrates with AesirX Shield Of Privacy, a decentralized identity management solution built on Web3 and Blockchain technology. This integration introduces the Consent feature, which respects privacy rights and complies with data protection regulations such as the European Union's General Data Protection Regulation (GDPR), Vietnam's Personal Data Protection Decree (PDPD), and the California Consumer Privacy Act (US) (CCPA).
AesirX Analytics makes use of Web3 technology to give users data ownership rights.
2. The Four-Tier Decentralized Consensus Mechanism
The four-level decentralized data consent model is one of AesirX Analytics' distinguishing features. This model allows website visitors to choose the level of consent they want to give to the collection and use of their data for personalization and advertising.
Assume you're a frequent online shopper. You visit an ecommerce site that uses AesirX Analytics. You will have the option of agreeing or declining to share your data (preferences, behaviors) for personalization and tailored product recommendations without disclosing sensitive personal information.
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Level 1: A single 30-minute session.
Users consent to AesirX Analytics collecting and analyzing their data in a single 30-minute session. The data will be permanently deleted from the website once the session ends.
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Level 2: Using Web3 ID accounts.
Users log in to AesirX's Web3 identity management account (Shield of Privacy, combining Concordium Web3 ID) and consent to AesirX Analytics collecting and analyzing their data across multiple sessions. When users exit the website, their data is permanently deleted.
- Level 3: Using the Web3 wallet.
Users use a Web3 wallet such as CCD (Concordium) and agree to allow AesirX Analytics to collect and process their data on the website. Users can revoke their consent at any time.
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Level 4: Web3 wallet and Web3 ID account combined.
Users connect to AesirX Analytics using a Web3 wallet and a Web3 ID account and agree to allow AesirX Analytics to collect and analyze their data on the website. Users have full control over their data and can view, edit, or withdraw consent at any time.
AesirX Analytics uses a Web3-based decentralized consensus mechanism.
3. The integration of Concordium Web3 ID technology
With the help of its strategic partner, Concordium, AesirX Analytics has successfully applied Blockchain and Web3 technologies to data analytics.
Concordium is a leading layer-1 Blockchain platform that provides decentralized applications with privacy, security, and scalability. Concordium is also the first Blockchain platform in the world to include features for identity verification and regulatory compliance.
Web3 technology has several notable advantages, including the elimination of intermediaries, increased security, and increased personalization. The issue of major corporations controlling user data is currently a major concern. This can sometimes be intrusive and jeopardize users' personal privacy. Because of the use of Blockchain, Web3 users will have complete ownership and control over their data on the Internet.
AesirX Shield of Privacy, built on Concordium Web3 ID technology, allows users to verify their data without disclosing personal information. Furthermore, it enables decentralized consent within AesirX Analytics, ensuring reliable data collection based on user preferences while complying with privacy laws.
4. Advantages of AesirX Analytics for Businesses
Businesses can benefit from using AesirX Analytics for data collection and analytics in a variety of ways, including:
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Customer segmentation and targeting
Classifying customers based on various criteria such as behavior, preferences, needs, and desires in order to target potential customers and create more personalized marketing campaigns.
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Conversion rate optimization
Using AesirX Analytics to track and measure website conversion rates, from attracting visitors to generating revenue. You can, for example, assess and improve factors influencing conversion rates such as page duration, user behavior, and bounce rate. Following that, improve content, images, and user experience to increase conversion rates.
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Marketing performance measurement
Using AesirX Analytics to track and evaluate the effectiveness of marketing campaigns. Comparing and optimizing various marketing strategies, as well as measuring their return on investment (ROI).
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Respect for privacy and legal compliance
Data protection and privacy regulations are becoming more common and stringent. Businesses that violate the rules may face administrative fines or even criminal charges. Using AesirX Analytics' decentralized consensus mechanism not only assists businesses in meeting "Notice and Consent" regulations regarding data collection and processing, but it also demonstrates respect for customers' privacy rights. As a result, the company's reputation and customer trust are improving.
Web3 technology is creating new opportunities and altering the way we approach marketing. One significant application of Web3 is the creation of more transparent and equitable online advertising and marketing systems. For example, AesirX Analytics, a blockchain-based data analytics tool, allows website owners and businesses to measure and analyze website performance in order to optimize marketing strategies, while users retain control over their personal information.
Comply with data protection laws and transform data into actionable insights using Web3 technology. Learn more about AesirX Analytics at https://analytics.aesirx.io/.
