Consumers Don't Trust You With Their Data

While public concern regarding data hacks and breaches has declined, a new study from the SAS Institute shows that most consumers are uneasy about sharing personal data with businesses. 

The study, titled “Mobility, Vulnerability and the State of Data Privacy,” reports 63 percent of respondents say recent data hacks and breaches at government agencies and financial websites have heightened their concerns, down from 77 percent in similar research from 2014.

However, the survey shows that 62 percent of consumers are concerned with what businesses do with their personal data, with 30 percent feeling no control at all over what businesses do with their information. Only 11 percent optimistically believe they have total control.

Age, income and gender play a role in these figures. Those who are more affluent, female or over 40 are more likely to take issue with how their information is used. 

Six in 10 consumers expressed qualms about data being collected via their smartphones or PCs, but tended to worry less about in-store technology and wearables.

In general, the more activities a consumer performs on line, the greater their trepidation. Those reporting hesitation about what businesses do with their personal information are more likely to go online, especially via mobile connections, than their less fearful counterparts.

One exception is mobile payment systems, with only 30 percent of survey respondents using them, with a common concern among non-users being unease about security.

Consumers place responsibility for their personal information squarely with the businesses collecting it, and the survey shows a clear perception that businesses aren’t keeping their end of the agreement. 

However, only 13 percent of respondents said that they are very likely to read the terms of agreement and privacy policies before they download new apps or software or make purchases. Most check the “I agree” box without ever clicking the link to the document they are consenting to.

At the same time, half the survey participants have abandoned a transaction because of the terms of agreement. While reasons include length and complexity, the main complaint is that consumers still had concerns about privacy, even after reading the information.