The use of consumer data was analyzed in a recent survey by Near Intelligence. Of the respondents, 59.8% said that changes in consumer behavior have caused their organization to rethink its business strategy in the past year.
The survey examined the ways in which consumer behavior data is used to make business decisions. Key findings include:
- 77.5% agree that consumer behavior data is critical for making informed business decisions.
- 72.1% of executives indicate that they would like to have more data available to them for business decisions.
- The majority of respondents, or 78%, agreed that data security and avoiding data breaches is a top priority for their organizations.
- Additionally, 94.4% expressed a level of concern about poor or unreliable data quality.
- When researching third-party data sources, data security (69.2%) and data accuracy (63.8%) are the top features and functionality that executives look for.
- 92.7% of executives expressed some level of concern around adherence to privacy regulations.
- 66.8% are confident that their organization is complying with all data privacy regulations in the regions where they operate.
- 70.9% feel confident that their organization is transparent with the way they collect and use consumer data.