Good data protection key for consumers when choosing businesses

Categories: News
The Confederation of British Industry (CBI) has found that 84% of consumers feel that a business with a good data security history and track record of protecting personal information is the key characteristic they look for when deciding where to take their custom. The CBI states that a commitment to data privacy should be a fundamental part of a business’s licence to operate in the modern economy.

The CBI argues that the issues of trust, privacy and innovation are increasingly in the spotlight as the pace of digital change accelerates and urges firms to do more in their engagement with consumers over personal data.

Key findings in the survey include:

• people identified greater transparency of how data is used (50%) and making it easier to delete data shared (48%) as key actions for firms to take

• over half of consumers (54%) said they are not aware of what rights they have when sharing data

• 49% of respondents said they did not believe businesses have their best interests at heart when using their personal data

Matthew Fell, CBI UK Chief Policy Director, told the annual CBI Cyber Security conference:

‘Responsible data use is the number one reason a customer will stay loyal to your business. And irresponsible data use is the main motive for looking elsewhere. It’s absolutely vital. And it means having a good cyber security strategy will make your business more competitive.’

Source: Press release: Almost 9 out of 10 people say businesses that protect their data will win their custom