82 percent want data mining for fraud protection, will even switch banks for more security;
78 percent more likely to buy from retailers with targeted ads, while only 16 percent will share social profile;
56 percent will share personal and family medical history with doctors
NEW YORK – June 25, 2013
Consumers worldwide overwhelmingly will share personal information to get better service from their doctors, bank and retailers; however, they are very discerning about how they share. Today’s digital consumers are complicated and sometimes skeptical about how institutions use their data, according to a global independent survey of consumers around the world commissioned by Infosys.
Americans, Europeans and Australians feel comfortable sharing data with doctors (90 percent), banks (76 percent) and retailers (70 percent); however, the research shows contrasting nuances. Consumers won’t readily share personal medical history with doctors. They say they want targeted ads yet are wary of sharing the information to enable this. The study shows consumers understand the benefits of sharing data but remain cautious of data mining (especially in Europe): 39 percent globally describe data mining as invasive while also saying it is helpful (35 percent), convenient (32 percent) and time saving (33 percent). Consumers in the United States are less concerned about the invasive issue (30 percent) than in the other countries surveyed, while German consumers are less willing to share personal data than in other countries.
The global research polled 5,000 digitally savvy consumers in five countries about how they trade personal data in the retail, banking, and healthcare sectors. The study shows the key challenge facing business is to navigate the complex behaviors consumers display when sharing their personal data.
Key global findings
Stephen Pratt, Managing Partner, Worldwide Consulting and Systems Integration and Executive Council Member at Infosys:
“This study is a wake-up call to companies about the enormous untapped opportunity to gain greater access to data by clearly communicating ‘what’s in it for me’ to the customer. Our research shows that people will certainly share though they’re very savvy about how they give up their personal information. Companies need to crack the code in mining data effectively to gain consumer trust and clearly articulate the benefit to their customers.”
Engaging the digital consumer – research methodology
This comprehensive global research project studied consumer sentiment on big data issues in the retail, financial services, and health care industries in the United States, United Kingdom, France, Germany and Australia. The study polled 1,000 consumers in each country via an online survey for a total global sample of 5,000 adults between the ages of 18 and 69. Independent research firms KRC and Vanson Bourne conducted the study; KRC surveyed the United States between May 3 and 7, 2013 and Vanson Bourne surveyed the remaining countries between May 8 and 22, 2013. To qualify for the survey, respondents had to be active Internet users and indicate that they have made an online purchase during the previous six weeks. The majority of respondents also had to indicate they owned a smartphone or tablet computer.
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