8. In Need of Oversight?
Are consumers willing to hand over their data to businesses? From what we’ve seen, the answer is “yes.” But what exactly are they looking for in exchange for their data? According to an IBM study, consumers are willing to share data with retailers—provided that they deliver value to consumers.1 Consumers’ willingness to share data has changed considerably in just a short period of time. The fraction of those willing to share their location with retailers was at just 19% in 2011. It had nearly doubled to 36% by 2013. Roughly one-third of consumers are willing to share their social media identities with retailers, as well as their telephone numbers to receive marketing messages.
Are all customers jumping on this bandwagon, ...
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