Sixty-five percent of customers say they have stopped buying from companies that did something they consider distrustful.
In addition, 60 percent of consumers say they’re uncomfortable with how companies use their personal information.* To remain competitive, organizations must build trust with their customers when it comes to data privacy and protection.
How can they achieve this? They need to be transparent about how they’re using customers’ information to instill confidence in their data protection technology and data-handling practices. Moreover, organizations that don’t have full visibility into their data—where it is, how it’s being used, who’s using it, and for what purpose—risk not being able to protect it. This, in turn, damages customer trust as well.
Most organizations already have the building blocks for achieving data visibility. However, they are spread across their privacy, security, and information governance areas. These disparate efforts do not give a clear picture of the organization’s data overall.
At KPMG, our data privacy specialists work with our clients to pull together data from different parts of the organization. We team with you to implement an integrated technology model that helps achieve visibility, as well as data protection and trust.
* “State of the Connected Customer 2020,” Salesforce Research.