Earning Consumer Trust in Big Data

A European Perspective

April, 2015. DLA Piper and The Boston Consulting Group.

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It is possible for big data to earn consumer trust but there are many dangers that it can do the opposite. This report by BCG and DLA Piper examines the European environment as the market that takes the most holistic approach to data privacy.It also puts some hard numbers to people’s attitudes to data privacy and use.

A recent (2013?) BCG poll of 10,000 consumers in 20 countries has yielded a range of insights into what data consumers regard as private and public. A number of useful ‘case examples’ are included to illustrate specific scenarios that financial institutions are likely to face. The report also contains a list of 10 practices that businesses can adhere to that mitigates the risk of big data projects.

Key Findings

  • Consumer Trust Is The Key to Unlocking Big Data’s Full Value Potential
  • In the EU countries surveyed, almost nine people out of ten consider financial data and data regarding payment card use private
  • Seven out of ten think that information about children, spouses, health status, and telephone communica-

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