In an article for the Harvard Business Review, Kevin Cochrane wrote that to overcome the erosion of trust consumers hold in businesses, more work is needed to develop transparent and consistent data practices. Cochrane pointed to a study that showed 79 percent of consumers will leave a brand if they feel their personal data was used without their consent. “Moving forward,” he wrote, “consumers should (and will) have full visibility into how extensively their personal data is being monetized.” He noted that the EU General Data Protection Regulation offers businesses an opportunity to reevaluate data practices, communicate clearly to customers, and regain consumer trust.
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