Consumers are becoming increasingly concerned with, and distrustful of, how companies safeguard their personal data against misuse and theft. Companies must take steps now to keep pace with expectations—or risk losing access to the data that increasingly drives strategy, insights and success.
To learn more about how consumers are thinking about data privacy and what they expect from corporations, KPMG surveyed 1,000 Americans. The survey reveals that consumers overwhelmingly agree that data privacy is important, and that they want corporations to take significant steps to better protect, manage and ethically use their data in 2020.
of consumers say data privacy is a human right
don’t trust companies to ethically sell personal data
say corporations should take the lead in establishing corporate data responsibility
of Americans reported avoiding opening email attachments from unknown senders, yet only 31% install mobile device security software and 20% use their own VPN when possible
of survey respondents say companies should prioritize giving consumers more control over their own data in 2020
What should corporations do now?
KPMG recommends the following measures for employers seeking to improve their data privacy practices:
- Adopt a principles-based approach to data privacy and security.
- Leverage emerging technologies to better protect and manage customer data.
- Conduct privacy impact assessments, especially as new return-to-work solutions are introduced amid the COVID-19 pandemic.
- Lead from strengths, and make sure consumers know about your data privacy strategy.