Disconnect between corporate and consumer views on Big Data privacy

The Forbes Insights study was a combination of three surveys of executives with knowledge of their Big Data operations, business-to-consumer consumers and business-to-business consumers.

While 81 percent of the business executives think consumers are highly concerned regarding privacy, only 47 percent of the business-to-consumers surveyed in a related study said they were concerned about privacy issues. Thirty-one percent of business-to-business consumers surveyed were concerned about privacy issues. Meanwhile, the consumers are more concerned about data security issues, according to the study.

Personal data collection has recognized benefits, according to consumers in the study. Three quarters (76 percent) of those surveyed said data collection translates to more relevant discounts and offers, while 62 percent recognise data collection makes possible personal offers, and 54 percent say it enables stored shipping information.

Half of the respondents (49 percent) said personal data collection enables recognition as a valued customer, and enables relevant product and service suggestions, while 43 percent said this collection enables more frequent and generous loyalty awards.