5 Ways Attitudes to Data Privacy are Evolving
Businesses can differentiate themselves from the competition by making data protection a central part of their value proposition
5 Ways Attitudes to Data Privacy are Evolving
Database security has played a central role in technology strategies in 2019 and that trend will continue through 2020 and beyond. For evidence that customer attitudes are changing fast, consider recent data leak scandals and the increasing distrust towards platforms like Facebook and Instagram.
The way organisations approach data privacy matters; if people feel their personal data is not being protected, they will take their business elsewhere. But this is may present a business opportunity for companies looking for a way to differentiate their value proposition.
And if that isn’t enough, then the raft of recent data privacy regulations, like the EU General Data Protection Regulation, and the high fines for data breaches, should be sufficient incentive to focus greater efforts on personal data protection.
- People take their data privacy and security more seriously now
Because of this shift, data regulators are taking a far tougher stance when organizations are hit by security breaches. The good news is that technology really can help: Data management software today includes simple audit tools to show when, where and by whom documents were accessed. Encryption, password protection and access controls are now far easier to implement and manage.
- Consumers expect companies to take ownership of data protection
It used to be possible to just ‘blame the bad guys’ when a data breach occurs. But not anymore. Consumers blame businesses, not hackers, when problems happen. But this is an opportunity, not just a burden and hassle for business.
The change in attitude toward privacy is a chance to make your business stand out from the competition. A company that can demonstrate it places a high value on privacy and security will be more attractive compared to one that does not take the trouble.
- Transparency if something goes wrong
Consumers want to see a sophisticated and honest reaction when something goes wrong. They want to see an organisation own up to their mistake and be as transparent as possible about how they are correcting the issue.
The most damaging part of a data breach often comes from trying to cover up or minimize what has happened. This means you need data security management systems that offer a transparent audit trail for documents and data. That way, if something does go wrong, consumers can be informed as quickly and transparently as possible. The organization needs to know what has gone wrong and document their efforts to address the issue.
- Clarity around why personal data is needed
People will agree to share personal data if they can see the value in doing so. If your organization offers great value in exchange for the safe processing of personal data, then people will be more likely to give controlled access. For instance, Waze and other navigation services now include real-time traffic data. In exchange for accurate traffic updates, consumers are happy to hand over their own tracking and location data. The key again is transparency – making clear to users exactly how and why their data is being collected and used.
- Easy to understand privacy policies
The secret is clarity and transparency. This means terms and conditions that are crystal clear and simple. Offer a two or three paragraph summary of the most important parts in plain language, reflecting your empathy for customers. View terms and conditions as a way to market and sell the business and its customer friendly attitude, not just a legal necessity.
Dealing with customers' changing perceptions towards data privacy can be tricky, but FUJIFILM Business Innovation is here to help with our security solutions and knowledge.
