Security News > 2020 > February > Data privacy: What consumers want businesses to know
Most businesses don't realize customers mistrust how their data is used, but customers haven't switched businesses because they feel they don't have a choice, revealed a new report from PwC, Consumer Intelligence Series: Trusted Tech Report.
Consumers, the report said, have a reasonable expectation for privacy with the data they provide the private sector; 84% of consumers will take their business elsewhere if they don't trust how a company is handling their data, and 85% said they wish there more companies they could trust with their data.
Consumers want companies to provide trust and to offer them control over their data.86% call it the responsibility of business to protect consumer data, in part because they know what they don't know.59% call themselves "Novices" at protecting their own personal privacy, perhaps because privacy documents can stretch to dozens of pages, which few have time to read.Only 27% of consumers know what hardware/software tokens are.
Consumers want to see data security/privacy made a core corporate value, no third-party sales of their data, the option to choose how their data is used and clarity about how they can set privacy settings.
How to keep consumers Declare privacy and security a core value, so consumers can hold you to it.