The transparency differentiator: data regulation in a digitised world

Customer data has long been viewed by many businesses as an asset to be either commercialised or protected as a competitive advantage. While this has led to a proliferation of new product developments and better targeted marketing for consumers, a fundamental shift in how people think about and value their personal information is occurring.

Consumers are increasingly demanding greater transparency around how their data is collected and used, coinciding with a global trend towards regulatory reform that is giving them more control over the way their data is handled. In effect, transparency has become a product differentiator, with many businesses now promoting features that offer consumers greater control over data collection and handling practices.