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BizReport : Internet : August 03, 2015

Personal data: Lack of trust could hinder business growth

Growth of digital services and businesses in the UK relies heavily on trust in the use of personal data, something which, according to a new study from the Digital Catapult, is currently lacking among a significant number of consumers.

by Helen Leggatt

In a new report, 'Trust in Personal Data: A UK Review', Digital Catapult reveals that a lack of trust in the use of personal data could "hinder the delivery of digital services and business growth in the UK for years to come".

Currently, 60% of consumers in the UK are uncomfortable sharing personal data and 14% refuse to share any personal data at all.

The reason for this lack of trust is something that all marketers should now be well aware of - a lack of openness and transparency. Consumers want to know how and when their data will be used but few businesses are making this information readily available.

catapult.pngMore specifically, two-thirds (65%) of consumers said they were "unsure if data was being shared without their consent". Nearly 8 in 10 believe that the main use of personal data wasn't for their own benefit but for the organizations' economic gain. Three quarters (76%) said their main concern was that they have "no control over how data is shared or who it is shared with" and nearly all (94%) want more control over their data.

"The sharing of personal data is vital to the improvement of digital services and the development of new ones. Every digital service reaches a point where it must overcome a hurdle. This is often associated with data, whether that is in the opening up of closed datasets or use of consumer information," says Neil Crockett, CEO at the Digital Catapult.

"To deliver the best digital services and drive economic growth, we must ensure they trust businesses to use their information in the right way. In doing this we not only create new and more productive citizen and consumer digital solutions, we give the UK a real chance in being a leader in a new wave of digital tools and approaches to solve a global problem."

The Digital Catapult is a not-for-profit organization providing thought leadership to create digital business success and accelerate job creation in the UK.

Image via Shutterstock

Tags: consumer trends, data management, data trends, personal data, research, UK

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