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BizReport : Advertising archives : May 11, 2017

Study: Brands want more data collection now

In a year the General Data Protection Regulation will go into effect in the EU; the GDPR is geared toward unifying data protection for people within the EU. And as the deadline approaches, more businesses believe they need to collect as much information as possible ahead of it.

by Kristina Knight

The GDPR would have companies prioritize customer privacy ahead of customer data collection. Researchers with BlueVenn found that most (86%) of businesses surveyed believe they need to increase data collection ahead of the GDPR. They also found that despite the wealth of customer data already available, more than half (57%) of both US and UK brands cannot create a full view of their customers.

"While our research suggests that many consumers are happy with the existing state of affairs, marketers need to start thinking about new ways to manage their data as we move into 2018," said Anthony Botibol, Marketing Director at BlueVenn. "The days of storing everything into an unstructured data warehouse or, at the other end of the spectrum, maintaining lists in Excel and Access are over. Under GDPR, today's brands will need to ensure their customer records are well governed and maintained, using Customer Data Platforms and their ilk in order to guarantee compliance and ensure that their data is being managed and maintained in an ethical way."

BlueVenn's report also found that most consumers (61%) say they are willing to forego a little privacy in exchange for more targeted or personalized products and services.

Tags: advertising, advertising data, BlueVenn, data collection trends, GDPR

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