Privacy concerns rise as businesses report increased collection of personal data

NEW YORK, August 17, 2021 / PRNewswire / – A new survey from KPMG reveals a deep disconnect between corporate data practices and the general public’s expectations for data transparency and privacy. As companies collect more personal data, respondents are increasingly concerned about how their data is being used and are raising concerns about the level of data collection.

KPMG survey confirms that data collection is on the increase, with 70% of business leaders surveyed saying their companies have increased the collection of personal data on consumers in the past year. At the same time, survey respondents qualified from the general population report feeling increasingly uncomfortable with these practices, with 86% of respondents stating that data privacy is a growing concern for them and around. two-thirds (68%) saying that the level of data collection by company is worrying.

“This separation between corporate sentiment and consumer sentiment is nothing new, but its persistence shows that businesses have a long way to go in making the public more comfortable with the way they collect, use and protect. the data “, states Orson lucas, KPMG’s leader in privacy services in the United States. “Failure to bridge this gap could present a real risk of losing access to valuable data and information that drives business growth. ”

Respondents are wary of how companies use their data

Respondents in the general population are concerned about how their data is used by organizations, and many of these concerns are based on a fundamental lack of trust. The investigation revealed that:

• 83% would not voluntarily share their data to help businesses create better products and services
• 64% say businesses aren’t doing enough to protect consumer data
• 47% think their smart devices are eavesdropping on their conversations
• 40% say they don’t trust companies to use their personal data ethically
• 13% don’t trust their own employer to use their personal data ethically

Many business leaders recognize that there is cause for concern. Speaking about their own employer, 33% of business leaders say consumers should be concerned about how their personal data is used by their business, and 29% agree that their business sometimes uses contrary data collection methods. ethics.

“People tend to underestimate behaviors that put them or their organization in a negative light,” says Lucas. “The fact that more than one in four say their business sometimes uses unethical data collection methods is troubling and helps explain why consumers are suspicious. “

Businesses can help bridge the trust gap
To close this gap, businesses must prioritize data protection and take meaningful action to build consumer confidence. Around 62% of business leaders say their companies should do more to strengthen existing data protection measures. The vast majority of general population respondents (88%) also say they want companies to take the lead in establishing accountability for corporate data.

Businesses should consider ways to be more explicit and transparent about how consumer data will be used. Most of the general population (76%) say they want more transparency about how their personal data is used by businesses, and 40% say they would gladly share their personal data if they knew exactly who would use it. and how they would be used. Right now, only 53% of business leaders say their business shows how this data will be used.

“Companies should think about how to leverage data discovery and governance tools, as well as explore the implications of new use cases powered by emerging technologies such as machine learning and AI , can improve data protection and boost consumer confidence, ”says Martin sokalski, leader in emerging technologies and digital solutions for KPMG in the United States. “These technologies can help organizations increase the visibility of their data practices, from better tracking data to ensuring integrity and fairness throughout the lifecycle.

About the survey
The findings of the report “Responsibility for Corporate Data: Bridging the Trust Gap” (link) are based on the results of two surveys. General population and workers based in the United States: An online survey of a nationally representative audience of 2,000 American adults, April 30 to May 6, 2021. Business leaders: an online survey of 250 senior (or higher) decision-makers involved in security / privacy / data decisions in companies with more than 1,000 employees of April 30 to May 12, 2021.

About KPMG srl
KPMG is one of the world’s leading professional services firms, providing innovative business solutions and auditing, tax and advisory services to many of the world’s largest and most prestigious organizations.

With our deep experience and innovative approaches, KPMG LLP can help your business by finding the right balance between preparing for tomorrow and achieving real results today. KPMG LLP can help organizations meet their compliance obligations, manage risk and perform in today’s dynamic and demanding environment.

KPMG LLP is the US independent member firm of KPMG International Cooperative (“KPMG International”). KPMG International’s independent member firms have 219,000 professionals working in 147 countries. Learn more at kpmg.com/us

Contact:
Melanie Batley
KPMG LLP
201-419-0677
[email protected]

SOURCE KPMG SENCRL / srl

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