Consumers are now demonstrating that they will “vote with their feet”—stopping or significantly reducing spending—if they believe that a company has misused data about them or other consumers. As noted, this can have dramatic results: in the US, customers who are aware of and concerned about data misuse reduce their spending by about a third in the first year.
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Finance
IT
Strategy
Marketing
TL Title:
Bridging the trust gap: The hidden landmine in big data
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We say:
A wake-up call for any organisation being less than scrupulous with their customer data.
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