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Introduction

Dissecting different approaches to and opportunities using data within wearable industry, including wearable vendors such as Fitbit, Apple, Samsung, and Google.

Highlights

  • The wearable industry is continuing to grow and has valuable data stores, such as biometrics, locations, demographics, and preferences. Information is available to vendors of wearable hardware and software offerings.
  • Established wearable vendors (e.g., Fitbit, Jawbone) aim to only monetize anonymized data. This contrasts with companies such as Google and Facebook, which aim to gather as much biometric and location data as possible to build comprehensive data profiles of users affiliated with its other products (e.g., Oculus Rift combining user data with Facebook, Instagram, and WhatsApp).
  • Industry data acquisition leaders (e.g., Facebook, Google) are likely to enter the activity band market. In order to monetize on personally identifiable data acquired through wearables, industry leaders must have products available or platform partnerships with activity band manufacturers that are relatively inexpensive to other wearable offerings in order to attract more consumers.

Features and Benefits

  • Evaluates how third parties (from any industry) can utilize insights from wearable user data.
  • Segments available data by wearable vendor hardware and software offerings.
  • Segments wearable vendors approach to sale of data (de-identified vs. personally identifiable offerings).
  • Assesses data use in optimization; for example, wearables optimizing hardware and software (including companion application) offerings based on user preference.

Key questions answered

  • What are the opportunities for wearable vendors to monetize their data?
  • How can third parties use de-identified aggregated as well as personally identifiable wearable data in order to enhance their market strategies?
  • What types of data can wearable vendors track through their hardware and software offerings (including companion application)?
  • How do data policies of companies like Google and Facebook differ from established wearable vendors like Fitbit?

Table of contents

Summary

  • In brief
  • Ovum view

Recommendations

  • Recommendations for new and established wearable entrants
  • Recommendations for third parties

Using data to capture comprehensive personal or cohort user profiles is key in wearable's monetary future

  • Setting the business context
  • Bringing the strategy to life
  • Outcome assessment

Appendix

  • Methodology
  • Further reading
  • Author

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