This report from Citi GPS: Global Perspectives & Solutions looks at how consumers are tracked, and how the data that is collected and analyzed is then used by organizations. It then looks at how consumers themselves perceive the topic of privacy and why regulators increasingly feel the need to intervene. Finally Citi conducts a series of case studies with third-party contributors such as Vodafone, Aviva, and even Citi to assess the challenges associated with adapting to the new landscape. The conclusions are quite stark. Focus on privacy and data protection is on the rise and forthcoming changes to regulation in the European Union, to be implemented in 2018, will fundamentally alter the risk/reward of using data and with it, alter the perception of the long-term opportunity from data.
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