However, poor data management for
Posted: Sat Feb 08, 2025 5:43 am
The introduction of the European General Data Protection Regulation (GDPR) in May 2018 has increased the importance of accountability, transparency and security in the collection and management of data, with sanctions for risks set out in the GDPR becoming stricter. Earlier this year, Marriott and British Airways were fined £99m and £184m for mishandling customer data, highlighting the importance the regulator places on customer data security and how seriously businesses must take it.
businesses goes far beyond fines — it can undermine customer trust, cause stocks to plummet, and damage a company’s reputation in the long term. GDPR and the fines that come with violating data rules have raised the profile of global data privacy standards. In January 2020, the US equivalent of GDPR, the California Consumer Privacy Act (CCPA), comes into force. It will limit the collection and storage of consumer data, and will force providers to provide consumers with information about how they canada mobile database and monetize information. With people increasingly concerned about data privacy, a customer-centric approach could be key to building trust in businesses.
Customers share their data in exchange for personalized services
Consumers are increasingly aware that when they use digital platforms such as search engines, social media, maps and other tools, they are sharing their data to access services and products. There have been encouraging results over the past 18 months, showing that consumers are more willing to share their data and marketers are more confident in their reputation with consumers. According to the DMA report, Data Privacy: What the consumer really thinks, 51% of respondents believe that sharing data is essential to the modern digital economy, up from 38% in 2012. 46% believe that they receive a better service in exchange for their data, up from 33% in 2012.
businesses goes far beyond fines — it can undermine customer trust, cause stocks to plummet, and damage a company’s reputation in the long term. GDPR and the fines that come with violating data rules have raised the profile of global data privacy standards. In January 2020, the US equivalent of GDPR, the California Consumer Privacy Act (CCPA), comes into force. It will limit the collection and storage of consumer data, and will force providers to provide consumers with information about how they canada mobile database and monetize information. With people increasingly concerned about data privacy, a customer-centric approach could be key to building trust in businesses.
Customers share their data in exchange for personalized services
Consumers are increasingly aware that when they use digital platforms such as search engines, social media, maps and other tools, they are sharing their data to access services and products. There have been encouraging results over the past 18 months, showing that consumers are more willing to share their data and marketers are more confident in their reputation with consumers. According to the DMA report, Data Privacy: What the consumer really thinks, 51% of respondents believe that sharing data is essential to the modern digital economy, up from 38% in 2012. 46% believe that they receive a better service in exchange for their data, up from 33% in 2012.