50 Stats Showing Why Companies Need To Prioritize Consumer Privacy

A more connected world brings opportunities for partnerships and increased personalization, but more customer data also highlights the need for increased data security. As cybersecurity threats increase, more consumers are concerned about who has their data and how it is used. New regulations have been put in place around the world to return power to customers to take control of their data. Although consumer confidence in how companies handle data isn’t high, organizations have a huge opportunity to proactively buoy their privacy plans to better protect customer data and improve the overall experience. These 50 statistics on consumer data paint the picture of why companies need to prioritize privacy and the benefits that can come.

Data Breaches Are On The Rise

A hacker attack happens every 39 seconds. (University of Maryland)

45% of Americans have had their personal information compromised by a data breach in the last five years. (RSA

The average time to detect and contain a breach is 279 days. (IBM)

The average data breach costs $3.92 million. (IBM)

The average data breach costs $150 per record lost. (IBM)

The average company has 534,465 files containing sensitive data. (Varonis)

53% of companies have more than 1,000 sensitive files open to every employee. (Varonis)

Consumers Are Concerned

46% of consumers feel they’ve lost control over their own data. (Salesforce)

Just 10% of consumers feel they have total control over their personal information.(PwC)

70% of Americans believe their personal data is less secure now than it was five years ago. (Pew Research Center)

Just 6% of Americans believe their data is more secure today than it was in the past. (Pew Research Center)

43% of consumers don’t believe they can adequately protect their personal data today. (Cisco)

62% of Americans don’t believe it’s possible to go through daily life without companies collecting data on them. (Pew Research Center)

24% of Americans say their personal data is “very vulnerable” to compromise. (Statista)

Only 2% of Americans don’t believe their data is vulnerable to compromise. (Statista)

84% of consumers say they want more control over how their data is being used. (Cisco)

81% of consumers say the potential risks they face from data collection by companies outweigh the benefits. (Pew Research Center)

79% of Americans are concerned about how their data is being used by companies. (Pew Research Center)

78% of consumers are most protective of their financial data. (RSA)

92% of Americans are concerned about their privacy when they use the Internet. (TrustArc)

65% of American voters say data privacy is one of the biggest issues our society faces.(Morning Consult)

Businesses Have A Responsibility To…

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