In its second-largest acquisition, Amazon buys the company for $970 million.
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“If any sensitive information is ever collected, it is securely hashed before it is stored to a user profile,” says Patti Renner, director of marketing at Knotice. “That means the system uses an algorithm to change, for example, purchase data into a unique data string, essentially creating a unique data fingerprint. That’s the ‘hash.’ Typically when the platform ingests transactional information, it creates an internal customer account number; the account number can be one of many identifiers for a profile. Data intake from commerce transactions can happen via real-time application programming interfaces or through bulk data uploads.”
Customers in stores are identified by e-mail addresses or phone numbers they offer or by names or other information from loyalty card transactions. For customers on web sites or apps who are not logged in to their accounts with that retailer, Knotice stores this anonymous activity as a “unique unknown.” Once a customer engages in “an identifiable event,” the Knotice system can connect anonymous behavior with identified behavior and tie all activities together.