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Most consumers using digital applications want companies to offer greater transparency in how they handle and track our data. A new study from API management company Axway found that 82% of Americans wish they knew what specific data companies have collected about them.
Only 45% of the participants in Axway’s study said companies were transparent about the ways they use data online. Axway analyzed new data from 1,000 US consumers concerned about data privacy and found that companies that eliminate friction with end users have an opportunity to build a foundation of trust.
Trust is a big priority for Big Tech when looking at data privacy. Axway’s study found that 77% of Americans say they feel like they are constantly being watched by large companies online, and 82% worry their online data may not be secure. This is clearly why 75% say they choose to work with businesses that are offering a more secure plan to protect personal data.
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However, for 36% of that group, it still depends on how much they trust that company. More than half — 59% — of respondents agreed it’s worth giving companies access to their personal data if it results in a better user experience. That would suggest that internet users may opt into app tracking, — and research shows 39% of the respondents said they’d allow it. That figures rose to 52% if there was an option to opt-out at any time.
The findings are intriguing, especially since initial reports of the app tracking opt-in rates under Apple’s new iOS policy hovered between 11% to 13%.
With just one third of the respondents stating they trust “Big Tech” more with their data compared to smaller, independent or local companies, and only 49% trust the large and smaller companies about the same, organizations should be looking for opportunities to build trust with their users.
Read Axway’s study in full.
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