How important is data privacy to you, particularly when you entrust it to a business? 87% of Americans consider their data privacy to be a human right. However, most don’t take proper security precautions. Let’s look at this.
The advisory firm KPMG recently released a report based on a survey of American consumer opinions about corporations and data privacy. This report outlined the primary privacy concerns of the everyday user and discusses the statistics around the issue.
Overall, the results showed that users have varying levels of understanding of data collection and are aware that their private data could be vulnerable to theft or unethical use. For example:
Despite seeming to understand data misuse, consumers don’t seem to be taking appropriate action. While most users said they thought certain online behaviors, like repeating passwords across accounts, using public Wi-Fi, and saving a credit card to a website, were risky, over 40% did it anyway.
This study also noted that 61% of users neglected their security options.
With all data; your personal data, or data collected by businesses, security should be the highest priority. A study by Harvard Business Review Analytic Services showed these results:
46% of surveyed consumers had stopped doing business with a retailer due to discomfort with their privacy statement.
This shows the enormous power and responsibility that consumers have to force businesses to improve security. For business, it’s a powerful reminder of how important data security is. While data and information security is a complex process that takes time and money, if you neglect it, you could lose half your market.
We’re here to help improve your security solutions and procedures. Give us a call at (973) 882-4644 today. Quikteks makes it easy.