Between a company with a good product and poor data protection practices, and a company with great data protection practices but not that great of a product, most consumers would choose the latter.
This is according to a new IBM Privacy study which analysed businesses’ data protection practices, and the consumers’ opinion of it. Most of the public knows their data is being shared, with more than four fifths claiming they’ve lost all control over the companies and how they share their data.
Consequently, consumers aren’t happy. Almost everyone (94 per cent) believes businesses should be doing more to protect the data they gathered. Brits would rather have a company with good data practices, than a company with a good product.
“Data privacy and data control have become commodities that consumers value highly, they are now demanding to understand and have control over where their data goes said Martin Borrett, Distinguished Engineer and CTO, IBM Security Europe.
“These consumers shouldn’t have to compromise on data integrity for a quality product, or vice versa. Businesses have a real and urgent responsibility to build data protection into their offerings, which is where technology can help.”
Besides protection – data control is another crucial element for consumers. The report says that half of the consumers in the UK decided not to work with a business due to fears about their ability to keep data safe.
IBM’s full report can be found on this link.