Consumers willing to give up personal data – if there are benefits

The majority of people are willing to give up their personal data, but only if companies can demonstrate a clear incentive for getting them to do so.

These are the results of a new survey by Infosys, which revealed that there is a level of caution towards data sharing, even in spite of the benefits it can bring.

More than a third (39 per cent) of those polled said that data mining is invasive, although 35 per cent described it as helpful and 32 per cent as convenient.

Stephen Pratt, managing partner of worldwide consulting and systems integration at Infosys, explained that people are more aware of mobile application security and other systems that protect their data.

He continued: "This study is a wake-up call to companies about the enormous untapped opportunity to gain greater access to data by clearly communicating 'what’s in it for me' to the customer.

"Our research shows that people will certainly share though they're very savvy about how they give up their personal information."

Attitudes differed towards various types of organisations – 82 per cent of people said they would expect their bank to mine data to protect against fraud, while only 56 per cent will share their medical history with healthcare professionals.

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