CLICK TO WATCH : ‘ HOW THE MASSIVE EQUIFAX DATA BREACH HAPPENED ’ 43 have the potential to be severe . More than data theft , though , the public concern and conversation has turned in the last few years towards the misuse and unwanted distribution and sharing of personal data by vast corporations like Facebook , in order to generate revenue and – more importantly – the kind of actionable insights that are driving the digital transformation of the customer experience . This year , the fourth annual Brand Relevance Index by consultancy firm Prophet found that , although “ 61 %
of consumers cannot imagine living without it , just 2 % trust it in the wake of various scandals , and only 9 % agree with its values .” Regulatory initiatives like GDPR and Open Banking are working to ensure that individual data in handled with greater sensitivity and security , but the need for transparency into companies ’ data policies is becoming more and more of a ‘ must have ’ for enterprises that wish to keep good faith and relationships with an increasingly powerful and discerning consumer class .
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