Europeans Value Their Own Demographic Data at £140
- Monday, October 6th, 2014
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A study of over 2,000 mobile users across the UK, France, Poland and Spain found that, on average, people believe their personal online data such as location and demographics is worth $140 to businesses.
The value of the data was affected by numerous factors. When considering companies they were unfamiliar with and had no previous dealings with, the value placed on data rose to an average of around £200. 80 per cent of respondents were aware that their personal data had a value for companies, and 78 per cent agreed that this value rose the closer they matched the brands ideal demographic.
The sense of imbalance in data-sharing between consumers and businesses was well illustrated by the study, carried out by Orange, with 67 per cent of respondents believing organisations benefit the most from the sharing of the data, and only six per cent believing consumers came out ahead.
Transparency was also an key issue, with 77 per cent of consumers stating that it was very important or critical that mobile operators inform users how their data is being collected and used – a factor as important as reliable service and value for money when it came to deciding upon a mobile operator.
“The research clearly demonstrates that consumers are acutely aware that the information a company holds about them has a value to that brand,” said Daniel Gurrola, vice president of business vision at Orange. “As the perceived value that consumers place on their data can change, depending on the relationship they hold with the organisation, companies must consider not only how they convey what the customer gets in return for this data exchange, but precisely how the data is being used, and where in order to build that essential trust.”