Data Privacy by the Numbers

Jan 27, 2021

Data Privacy Day, observed annually on January 28, is a global effort that generates awareness about the importance of privacy, highlights easy ways to protect personal information and reminds organizations that privacy is good for business.

In partnership with the National Cyber Security Alliance (NCSA), Abacus Group has registered as an official Data Privacy Day Champion. To learn more about Data Privacy Day and our involvement, read our Press Release.

According to a Pew Research Center study, 79% of U.S. adults report being concerned about the way their data is being used by companies. Respecting consumers’ privacy is a smart strategy for inspiring trust and enhancing reputation and growth in your business. The NCSA has compiled some facts and figures for a glimpse into the importance of data privacy and how protecting personal data is a team sport.

  • 4 in 5 people think the risks of sharing data outweigh the benefits.
  • 81% of us feel that we have no control over when data is collected about us.
  • 74% of us rarely or never read a company's privacy policy before accepting it.
  • 84% of us want more control over how our data is being used.
  • Data about your health can be used to commit fraud, contributing to $68 billion in losses to the U.S. economy each year.
  • Stolen financial data, like your credit card number, accounts for nearly half of all identity theft.
  • 66% of all countries have privacy laws. More are joining them every year.
  • 92% of Americans are concerned about their privacy when they use the Internet.
  • 65% of American voters say data privacy is one of the biggest issues our society faces. 
  • 63% of consumers say most companies aren’t transparent about how their data is used. 
  • 54% of consumers say companies don’t use data in a way that benefits them.
  • 60% of Americans believe there are ethical ways companies can use personal information. 
  • Only 15% of consumers think companies will use their personal data to improve their lives.
  • 92% of consumers say companies must be proactive about data protection.
  • 64% of Americans would blame the company—not the hacker—for the loss of personal data.
  • 88% of consumers say the extent of their willingness to share personal information is based on how much they trust a company.
  • 39% of consumers are likely to walk away from a company that requires them to provide highly personal data to conduct business with them.
  • 48% of consumers have stopped buying from a company over privacy concerns.
  • 97% of companies have seen benefits like a competitive advantage or investor appeal from investing in privacy.
Click here to download a PDF of MediaPRO's "Data Privacy by the Numbers" infographic.
 
Data_Privacy_By_Numbers_Infographic_2021

 

It's important for employees to be conscious of data privacy best practices year-round. Read our blog post about the NCSA's 5 Ways to Help Employees be #PrivacyAware.

Additional Insights and References:

You May Also Like

These Stories on Blog

Background image with financial charts and graphs on media backdrop

Learn more about how your investment firm can benefit from our flexible, scalable & secure IT services.

Contact Us