Insight

The new imperative for corporate data responsibility

Consumers believe data privacy is a human right. Corporations need to raise their game

Orson Lucas

Orson Lucas

Principal, Advisory, Cyber Security Services, KPMG US

+1 704-502-1067

Steven Stein

Steven Stein

Principal, Cyber Security, KPMG US

+1 312-665-3181

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.

The new imperative for corporate data responsibility
Consumers believe data privacy is a human right. Corporations need to raise their game


Key Findings

87%

of consumers say data privacy is a human right

 

68%

don’t trust companies to ethically sell personal data



 

91%

say corporations should take the lead in establishing corporate data responsibility


65%

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

Getting data protection and management right isn’t optional. Corporations rely on the insights they get from customer data to sharpen their strategy and enhance the customer experience. But with access to that data comes an obligation to protect it. Ultimately, consumers will hold organizations that fail to do so accountable.
Orson Lucas, Principal, Cyber Security Services, KPMG US
56%

 

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:

  1. Adopt a principles-based approach to data privacy and security.
  2. Leverage emerging technologies to better protect and manage customer data.
  3. Conduct privacy impact assessments, especially as new return-to-work solutions are introduced amid the COVID-19 pandemic.
  4. Lead from strengths, and make sure consumers know about your data privacy strategy.


 

The new imperative for corporate data responsibility
Consumers believe data privacy is a human right. Corporations need to raise their game