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Nearly 60% of consumers say it's worthwhile to give companies access to personal data it if leads to a better customer experience, according to a survey from Axway.
That was one of the major findings from the report released this month by Axway, which provides digital experiences through API management and B2B integrations and managed file transfers.
“One major takeaway is that close to 60% of people globally believe it’s worth allowing companies to access their personal data if it means a better user experience,” Vince Padua, CTIO of Axway, told CMSWire.
Those results on the same question vary greatly in different countries. According to the survey, 75% of Brazilians believe that giving companies access to their personal data in exchange for a better user experience is worth it, while only 59% of Americans believe the same.
The British are split, with only 50% agreeing; and Germans are a little less enthusiastic, with only 48% saying the same.
Axway asked survey respondents about open banking and financial services, healthcare general technology, security and privacy and digital customer experiences. Survey partner Propeller Insights asked respondents the questions between April and November 2021, which included 5,074 individuals from the United Kingdom, Brazil, Germany, France and the United States.
Consumers Want Transparency Over Data
While consumers would give up their data for a great digital customer experience, they still want more control over who sees their personal data. They want to know who is handling and managing their data. Most — 90% of respondents — say they want to know the specific data that companies have collected about them. Further, security is a problem. Many survey respondents said they feared their online data may not be secure.
How does this break down in numbers?
- 37%: Number of people globally who feel that companies are transparent about the ways they use data online.
- 45%: Number of Americans who feel companies are transparent about the ways they use data online.
- 74%: Number of those in UK who feel companies are not transparent about the ways they use data online (the French came in at 69%).
- 48%: Number of those who trust that the mobile apps they use protect their personal data.
- 85%: Number of people who are concerned that their online data may not be secure.
- 42%: Number of Americans who say they are “very concerned" that their online data might not be sure; while 27% of British, 27% of French and 21% of Germans say the same. Close to 60% of respondents from these European countries do say they’re “somewhat concerned” about the security of their online data.
Related Article: Privacy by Design (PbD): A Definitive Guide and Why It Matters
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Balancing Digital Customer Experience With Privacy
This survey highlight a growing awareness of — and desire for — more personalized, convenient services but with an important caveat, according to Padua.
Safety and discretion are paramount: 85% from across the world expressed fear that their data stored online may not be safe. It is possible, he said, to help construct the digital experiences that consumers have come to expect while also enabling firms to provide them the privacy and security that they seek by giving up data in a secure environment while building on legacy infrastructure.
Related Article: Fielding Your Customer Survey: Remember the 4 P's
Convenience Is Still a Factor in Consumer Behavior
According to Padua, the three most important findings of this research are:
- Convenience is still a major factor in consumer behavior: Nearly two-thirds (73%) of individuals across the world use their Facebook or Google account to connect into other applications to avoid having to establish new logins as an example of convenience.
- Consumers want privacy and control over their data – and greater transparency
- Healthcare is opening up but still has a way to go to better serve patients
The survey also explored consumers' knowledge of cloud computing software. At this point, most individuals (88%) are familiar with some aspect of cloud computing, but they don't know exactly what it means.
Some 19% of Americans said they didn't know what the "cloud" was, according to a recent poll by Forrester. More Brazilians (93%) than any other country claim to know what the cloud is, compared to 89% for Germany, 89% for the UK, 86% for France and 81% for Americans.
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