Monetising Survey Data With Lumeos

Every day that we login to the internet, we're creating data via the multitude of messages, searches and transactions we complete online. While much of the data we produce, we give away willingly in exchange for the use of various services digital companies are still looking for more.

While quantitive data is collected at high frequencies each day, businesses still need qualitative data to make sense of specific trends and overlay it with emotive behaviour. Surveys and polls are a popular way to extract qualitative data from users.

Surveys, however, receive a notoriously low participation rate as users either don't want to share extra data or do not see an incentive to do so which makes sample sizes smaller and extracting from a smaller samples leaves much to interpretation.

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Updating how survey data is collected

There are many reasons businesses and individuals would want to run surveys and polls to collect qualitative data. This could be for research papers and studies, to improve products or services with valuable feedback or to try to gauge the opinions of a particular demographic for statistical purposes.

By offering incentives for data provided in surveys, you can encourage users to complete studies while making sure their data is protected and encrypted gives participants peace of mind.

This two-fold approach makes for a better quality of data as well as reliable data as only those who actively provide their data in exchange for payment are verified as participants making admin a whole lot easier.

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What is Lumeos?

Lumeos is a survey and polling tool built on the EOS blockchain and has its own native mobile app for both Android and iOS as well as having its own native token called LUME.

Users and companies can create simple polls like those done on Instagram and Facebook and reward those who provide responses as well as allowing them to comment and provide qualitative data.

Using Lumeos?

Downloading the app was reasonably straight forward and sign up was remarkably streamlined and straightforward. Upon sign up, I also received 500 Lumeos Tokens as a gift. You can earn additional coins for performing the following tasks

• Verifying your phone number + 50 Tokens
• Verify your email address + 50 Tokens
• Answering a poll

I think the project has the potential I believe they are selling themselves short at the moment trying to be a separate native application instead of a second layer application that can be embedded into other sites.

I think having to ask your participants to download an app and create a separate wallet to receive funds is a highly impractical use case and severly limits those wanting to participate, thus providing limited or even skewed data.

Lumeos profile

The native experience on the app is smooth, answering and engaging with polls are simple and easy but quickly gets boring since all you can do is answer various election, it's short-form content quickly becomes stale, and there's only so many polls yo can answer before your motivation for the app wanes.

Lumeos polls available

To create your own survey you need to pay a total of 1500 LUME, you also need to have a verified account and you are limited to 1 poll per day.

Lumeos rewards

How Lumeos can be improved?

I think that an app serves a particular niche of the market and while reward and bounty hunters may find it valuable, it doesn't provide enough reach to make this tool invaluable to businesses, researchers or marketers.

I think being able to embed or connect the app with various other social media sites would be one way to expand reach.

Also, some KYC for demographics so you can get accurate data and only get people you want to hear from for example women of a certain age or people of a particular nationality to make for interesting data points.

I think a data dashboard will also go a long way along with being able to do follow up posts and drip campaigns to get more qualified responses and deep dives into data.

Lumeos is pretty basic, and really cannot compete with centralised tools like survey monkey that offer no incentives, and that's saying a lot.

I think they should focus more on a B2B segment and start converting marketers who use other tools regularly and start building in paid subscriptions packages for these use cases.

This will allow businesses to expand the reach of the tool and put it in the hands of more people than any marketing they could do themselves.

I'm not convinced this app has what it takes to disrupt this market and n its current form I would give this dapplication a 3 out of 10

More on lumeos

If you found this review interesting and would like to know more about what Lumeos is up to, how they are progressing or what the token is worth, then check out the following resources.

• Lumeos Website
• State Of Dapps Profile

Disclaimer

This is my review for the @dapplovers and @oracle-d Review a Data DApp & Earn Rewards ft. State Of The DApps! which can be found here