Today, May 25, 2018, we celebrate the beginning of a new era for Consumer Data. The GDPR is now live in Europe and Insights Network is leading the way in disrupting the industry and bringing user friendly products to market which take back control and monetization of our data.
With companies like Facebook and Google exploiting our personal data for their main source of revenue, we decided to investigate how consumers feel about the use of their personal data. After surveying over 1,000 people in the United States, the results were incontrovertible. 9 in 10 respondents feel it is unethical for their personal data to be shared without their consent. And with the GDPR (General Data Protection Plan) going into effect today across the European Union, these sentiments will likely strengthen.
What many consumers are primarily concerned about is not the sharing of personal data, but rather the lack of transparency, which we are here to solve by giving users the ability to own, manage and monetize their information securely. Our survey found that 77 percent of respondents would be more comfortable sharing their data if they knew which company was requesting it and 86 percent want to be notified each time their data is shared.
What does this mean for the future of personal data use?
As awareness of the unethical use of personal data grows, people are demanding a new paradigm of personal data use. An overwhelming majority of respondents — 79 percent — believe they should be compensated every time their data is shared and 72 percent would feel more comfortable sharing their data if they were offered an incentive in exchange.
The GDPR requires companies to comply with consumer data protection rules or risk strict penalties. What consumers are now seeking for use of their personal data is increasingly becoming a reality. With a changing climate on personal data use, companies like Facebook and Google, soon enough, will no longer have the option to exploit people’s personal data and must shift their strategies.
Click the link below for the full report covered by Fast Company: https://www.fastcompany.com/40576520/this-consumer-survey-shows-trouble-ahead-for-facebook
Coming Next Week
Next week, we are launching an app update to include a referral campaign alongside several new sponsored surveys! If you’re in the EU and want to meet us in person, you can find us at Blockshow Berlin May 28 & 29!
To taking back control of our data!