The way businesses currently approach their customers’ data, and the way customers would like them to, seem two vastly different worlds at the moment. Those are the results published in a first of a series of whitepapers, written by DST and DataIQ.
The first whitepaper, entitled ‘Permission’, was released as businesses start to adapt to the EU GDPR (European Union General Data Protection Regulation).
According to ‘Permission’, data processing for legitimate business interests is vital for 78 per cent of companies, but just 15 per cent of businesses track permission company-wide.
On the other hand, just above a quarter (28 per cent) of consumers believe businesses should always ask for permission before using their data.
Just above a fifth (21 per cent) believe data consent should not be valid more than six months, the same percentage as those believing their data should be deleted right away.
Four out of ten (41 per cent) of consumers don’t have a problem with giving data away, as long as they understand how that data will be used.
“With such a high degree of connectivity and Internet activity, consumers are increasingly faced with requests for their personal information and their permission to make use of it,” says Ruaraidh Thomas, Managing Director at DST Applied Analytics.
“It’s clear from this research that companies need to work to understand their customers’ expectations when it comes to sharing data in order to build long lasting relationships, especially given the upcoming GDPR.”
The GDPR aims to regulate how businesses use their consumers’ data, so that no misuse or abuse occurs.
Image source: Shutterstock/Artem Samokhvalov