60% of consumers worldwide believe that companies regularly misuse their personal data, and 68% are concerned about the amount of data collected. This is according to a study conducted by a data privacy management platform and consulting company, PrivacyEngine. The study, which involves more than 1.3 million people globally, aims to reveal the most important issues and the most preferred practices when it comes to data privacy in 2024.
On top of the numbers mentioned above, the study has also found that:
- 42.7% of the survey respondents cited data privacy as essential to avoiding data breaches. Followed by protecting personal information at 15.4% and safeguarding sensitive information at 14.8%.
Image source: PrivacyEngine
- 22.6% said implementing strong and unique passwords is the most significant best practice for data privacy. 18.7% emphasised that being alerted when data or security breaches occurred was the best practice, allowing them to take steps to protect themselves, while 16.9% said staying vigilant against phishing and email scams was the best method.
- 26.9% or those 65 and older care most about data security concerns, followed by 55 to 64-year-olds at 22.3% and 45 to 54-year-olds at 21.6%.
Image source: PrivacyEngine
- Consumers are evidently worried about their online data usage. A significant 46% of individuals feel they have lost control over the handling of their personal information. Additionally, 87% of users want the ability to manage how their data is collected and utilised, while 76% believe that companies need to take greater measures to safeguard their information.
The key findings revealed by the PrivacyEngine study underscores the significance of implementing stringent data privacy measures to foster consumer trust. By doing so, companies not only protect sensitive information but also cultivate a strong relationship with their customers, thus driving loyalty and satisfaction in the long run.