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Customer trust in companies is increasingly rare, especially when it comes to data management and protection. The trend is accelerating as cyberattacks continue to grow and vendors look to utilize more customer data as part of strategic initiatives.
Businesses need more customer data to improve online sales, and how well a business handles this cyber trust gap could mean the difference between driving new digital revenue or not.
KPMG’s recent “Corporate Data Responsibility: Bridging the consumer trust gap” report quantifies just how wide the trust gap is today and which factors are causing it to accelerate. With 86% of customers surveyed saying data privacy is a concern and 68% saying companies’ level of data collection is concerning, closing the growing trust gap isn’t going to be easy. The survey draws on interviews with 2,000 U.S.-based consumers and 250 director-level and higher security and data privacy professionals.
While most security and data privacy leaders (62%) said their organizations should be doing more to strengthen…
