--By Tripti Sharma--
Customer data privacy involves protecting and handling sensitive personal information that an individual provides during transaction. As the internet has evolved as a medium of communication and consumers have easy access to more product information data privacy has become a growing concern. We all are growing in the fast-changing era of technology, our reliance on and comfort with technology is so much that we actually don’t know what we are losing.
Have you ever thought of, that how companies like Facebook or other online services do not charge you for using their services and still earning in billions? It’s the game of data, these companies use customer data to understand customer expectations and behavior through which next move can be predicted. Think when you visit a grocery store daily for purchasing an item and the next day the owner of shop keeps an item on its desk which you were thinking to purchase. What will be your reaction- surprise or shock? it’s like attaching a GPS tracker to track your every move. When more than 450 million records of Facebook user’s data got leaked, first thing that came in the mind of every Facebook user was “Is our Data Protected”?
Digital assistants such as Amazon Echo and Google Home provide services like sending recordings of your queries back to the respective companies for processing data. What we as consumers of companies don’t realize is that there exist some hidden trackers that are scooping up our personal information. When you search something, companies exactly know what you want by using the history of keywords. The non-compliance to the data privacy guidelines falls on both customers and companies.
As the concern for data privacy has grown leaps and bounds, a research conducted by Deloitte says that consumers are less likely to take surveys due to privacy concerns. Data collected from consumers is important as it provides in-depth insights into how an organization can enhance customer experience, therefore it is important and needs to be secured.
What should companies do?
Companies while disposing or using consumer data can ensure data privacy by:
Consumers while using Internet services can ensure privacy of their own information by taking small steps like reading policy terms before scrolling on any web page or keeping browsing secret. Sharing and using data has both rewards and risks. Data privacy is something that you can sell but you can’t buy it back. If marketers advocate privacy and transparency as core principles of a user-first digital experience, then focus can be shifted from short-term leads to long term trust and brand value.