Consumer insights need to be disrupted
Check out all the Smart Security Summit on-demand sessions here.
We've all been there: you innocently browse social media or search online, and suddenly you see ads for forgotten items in an online shopping cart; for vacation deals that you have recently viewed on a travel website; for the great new book you recommended to a colleague at happy hour. And the list continues. Just look at social media and you'll see users expressing concern about these types of highly targeted ads and even memes on Twitter, TikTok and Instagram.
Businesses have a unique opportunity to recognize that the old way of collecting data is no longer appropriate in the eyes of the consumer. In fact, according to a 2021 report from KPMG, 68% of consumers are concerned about the level of data collected by companies. And 40% don't trust companies at all to use their data ethically. Additionally, in the same KPMG report, executives expressed the following about their data collection processes:
29% admitted that the way their companies collect personal information is "sometimes unethical". 33% said consumers should be concerned about how their business uses personal data.This type of growing concern has prompted a bipartisan group of lawmakers within the U.S. government to propose a bill that would allow users to opt out of targeted ads and sue Internet companies that monetize inappropriately their data. In anticipation of having to comply with such regulations, some tech titans are already taking steps to improve transparency around data collection.
For example, Apple introduced "App Tracking Transparency" in 2021. This feature, rolling out to all eligible iPhones, allows users to block apps from targeting them for ads - and most people actually have disabled ad targeting. within the first six months of launch. Moves like this will continue to completely change the game for online ads as we once knew them.
EventOn-Demand Smart Security Summit
Learn about the essential role of AI and ML in cybersecurity and industry-specific case studies. Watch the on-demand sessions today.
look hereThe heightened awareness of consumers and regulators around data should be alarming for companies that have traditionally relied on open access to their customers' (and potential customers') information rather than asking permission to do it. If businesses want to continue to benefit from consumer data, it's high time they started planning for the future of what data collection will be - and should - be.
Main offensesSome current violators do all of the following quietly, without explicitly telling customers or asking for their consent:
Track online behavior via IP addresses, web browser cookies and device identifiers. Audio tracking through built-in microphones in mobile and smart devices. Behavioral monitoring through physical security hardware in physical establishments.Although these methodologies have been used for years, consumers still don't feel comfortable with the level of information they "give...
Check out all the Smart Security Summit on-demand sessions here.
We've all been there: you innocently browse social media or search online, and suddenly you see ads for forgotten items in an online shopping cart; for vacation deals that you have recently viewed on a travel website; for the great new book you recommended to a colleague at happy hour. And the list continues. Just look at social media and you'll see users expressing concern about these types of highly targeted ads and even memes on Twitter, TikTok and Instagram.
Businesses have a unique opportunity to recognize that the old way of collecting data is no longer appropriate in the eyes of the consumer. In fact, according to a 2021 report from KPMG, 68% of consumers are concerned about the level of data collected by companies. And 40% don't trust companies at all to use their data ethically. Additionally, in the same KPMG report, executives expressed the following about their data collection processes:
29% admitted that the way their companies collect personal information is "sometimes unethical". 33% said consumers should be concerned about how their business uses personal data.This type of growing concern has prompted a bipartisan group of lawmakers within the U.S. government to propose a bill that would allow users to opt out of targeted ads and sue Internet companies that monetize inappropriately their data. In anticipation of having to comply with such regulations, some tech titans are already taking steps to improve transparency around data collection.
For example, Apple introduced "App Tracking Transparency" in 2021. This feature, rolling out to all eligible iPhones, allows users to block apps from targeting them for ads - and most people actually have disabled ad targeting. within the first six months of launch. Moves like this will continue to completely change the game for online ads as we once knew them.
EventOn-Demand Smart Security Summit
Learn about the essential role of AI and ML in cybersecurity and industry-specific case studies. Watch the on-demand sessions today.
look hereThe heightened awareness of consumers and regulators around data should be alarming for companies that have traditionally relied on open access to their customers' (and potential customers') information rather than asking permission to do it. If businesses want to continue to benefit from consumer data, it's high time they started planning for the future of what data collection will be - and should - be.
Main offensesSome current violators do all of the following quietly, without explicitly telling customers or asking for their consent:
Track online behavior via IP addresses, web browser cookies and device identifiers. Audio tracking through built-in microphones in mobile and smart devices. Behavioral monitoring through physical security hardware in physical establishments.Although these methodologies have been used for years, consumers still don't feel comfortable with the level of information they "give...
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