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Consumers Are Watching & Shifting Attitudes on Data Privacy

The Cambridge Analytics/Facebook debacle has apparently resulted in a significant turning point in the way consumers feels about their data privacy. Who would have thought? 

Customer Identity and Access Management (CIAM) provider Janrain announced the results of a new consumer-focused privacy-related survey it conducted and revealed that 78 percent were aware that Cambridge Analytica had taken data of some 87 million users without permission. 

What's discouraging and somewhat disheartening (particuarly for those that need data to survive and thrive) is that while 94 percent are general concerned about their data, 57 percent said the breach made them even more concerned about data privacy than they had been in the past. And here's the kicker: 62 percent are closing their Facebook account - that's bad news for advertisers, information publishers and the social network too. 

“One thing history has shown us time and time again is that irresponsible business will hurt public trust,” said Jim Kaskade, CEO at Janrain.

“Over the past few years, consumers had been reporting growing acceptance of allowing businesses to use their personal data in order to provide personalized products, services and experiences. However, that does not mean that you treat it any differently than financial or health information, which is highly regulated. The recent news surrounding Cambridge Analytica has awakened people to the fact that they value their social data as much as they do any other personal data. Now the question is whether businesses will begin to self-regulate to address this fact.”

Whether all the increased attention and more critical and cautious attitudes toward data privacy matter in the long run is anyone guess, but many hope it will ultimately leads to more transparency in the use and protection of personal information, and restore consumer's confidence in brands 

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