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Consumer expectation versus business reality
By Rebecca Hennessy
Director of Market Strategy Experian, Data Quality UK&I
Consumer attitudes towards data management are outpacing business’ readiness to respond. However, 2017 could mark an important step towards more transparent data management processes that meet the changing macroeconomic trends
The rapid adoption and development of technological innovation means that we now live in a world built on data. Providing data as part of an interaction with brands has become so familiar to us – whether it’s to utilise apps to plan a journey like Citymapper, access content or pay online – our awareness of this data exchange has grown greatly. These exchanges have become ingrained in our behaviours and as a result, data is everywhere. Organisations of all shapes and sizes are in possession of more consumer information than ever before. With this comes greater responsibility and an onus on businesses to have effective processes in place to manage their data.
Data is transforming how the world conducts business, but Experian’s latest report has found many companies are struggling to keep pace with customer expectations.
Consumers are increasingly aware of the ‘value’ and vulnerability of their information. In fact, 7 in 10 (72%) of companies surveyed said data quality issues had affected trust and perception.
Experian’s latest research explores how these changes in attitudes towards data management are outpacing businesses readiness to respond. However, 2017 could mark an important step towards more transparent data management processes that respond to changing data regulations.
The key question is, with regulation imminent, and consumer attitudes evolving, who is actually responsible for driving these changes and ensuring that data quality is urgently addressed across the business?
Download this Global Data Management Research to:
- Recognise the macroeconomic trends influencing data management
- Benchmark your data maturity for GDPR readiness
- Explore the emerging roles to meet data regulation
- Understand the businesses responsibility in maintaining data accuracy