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BizReport : Internet : September 03, 2014

Study indicates conservative data approach best

Data breaches like the recent Target scandal make all of us think harder about our private information. Are we safe enough? Should we take additional steps? What about the brands we choose to shop with, are they protecting us?

by Kristina Knight

"With consumer fears increasing over the use of 'personal' data, it is of upmost importance that marketers make privacy a cornerstone of their overall strategy and embrace innovative privacy practices," said Joanna O'Connell, Director of Research at AdExchanger.

According to a new report out from AdExchanger brands are taking the right steps - and at the right time. According to the data the conservative approach to personal data collection and use is helping now, and will continue to help protect citizens in the future.

Specific to Personally Identifiable Information (PII) like medical details, date of birth, employee/tax numbers, etc, the research indicates businesses must continue to take a conservative, slow approach so that huge data breaches do not put consumers' information at risk.

"Although managing PII is a serious issue, marketers should see it as an opportunity to grow and evolve," said Lizzie Komar, Associate Analyst at AdExchanger Research and author of the research. "By attaining consumer trust through privacy-friendly practices, companies have the potential to reap a multitude of rewards, including new streams of data collected with consumer permission."

AdExchanger's experts suggest brands know their local privacy laws and comply with them, put in place stringent privacy rules and use the data coming to them in a way that doesn't put consumers' information at risk.

The full whitepaper can be found here.

Image via Shutterstock

Tags: AdExchanger, consumer data, data management, personal data

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