If data is used to improve a product, consumers generally feel the enhancement itself is a fair trade, but they expect more in return for data used to target marketing, and the most in return for data sold to third parties. In general, the perceived value rises as the data’s breadth and sensitivity increases from basic, voluntarily shared information to detailed, predictive profiles that firms create through analytics, and as its uses shift from benefiting the consumer to benefiting the company. The results show that the value consumers place on different data depends a lot on what it is and how it is used. It examined what people knew about the information trails they leave online, which organizations they did-and did not-trust with their data, and which data they valued the most. In this article, the three share the results of a survey of 900 people across five countries, which looked at attitudes about data privacy and security. Though that practice may give firms an edge in the short term, in the long run it undermines consumers’ trust, which in turn hurts competitiveness, say authors Morey, Forbath, and Schoop. But they tend to be opaque about the information they collect and often resell, which leaves their customers feeling uneasy.
With the help of technology, companies today sweep up huge amounts of customer data.
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