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Wireless Dealer Magazine CITA 2013 Issue

PERSONAL INFORMATION – HISTORICal OUTLOOK PERSONAL INFORMATION W D M – HISTORICal OUTLOOK PERSONAL INFORMATION – HISTORICal OUTLOOK PERSONAL INFORMATION – HISTORICal OUTLOOK In the history of relationships between consumers and businesses, a vendor’s gathering of information about its customers in order to improve services is far from a novel concept. In the history of relationships between consumers and businesses, a vendor’s gathering of information about its customers in order to improve services is far from a novel concept. In the history of relationships between consumers and businesses, a vendor’s gathering of information about its customers in order to improve services is far from a novel concept. In the history of relationships between consumers and businesses, a vendor’s gathering of information about its customers in order to improve services is far from a novel concept. “Face to face” Pre-Industrialization commercial trade before industrialization was predominately conducted face-to-face meaning personal information was shared all the time, particularly in reoccurring and tailored services. over time, the local vendor came to know a customer’s preferences. Hence personal information was gathered, but on a scale limited and comprehensible to those involved. “Engagism” Post-Industrialization The mass-market still prevails, however digitalization has enabled vendors to gain supreme knowledge about the buyers’ individual traits due to their digital footprints and sharing of personal information. In the days of Big Data, the consumer no longer comprehends what is shared, to whom or how it is used. By instead utilizing personal information in a fair manner, the quidpro quo logic of pre-industrialization can be re-established. > Consumer awareness still low – big data not an issue most consumers are aware that their personal information is collected for commercial purposes – more than 50% believe so. But why, how or ex- actly what it is used for is obscure to most. sensitivity of personal information should be understood principally from the perspective of the individual consumer and not from a vendor or usage perspective; anonymous big data is rarely perceived as a big issue. > Value creation over risk prevention If the consumer can see a clear and desired benefit from sharing personal information, concerns about sensitivity diminish. If the option is between sharing information and gaining something on one hand, and guarding informa- tion to avoid risk on the other, many consumers will go for sharing. more than 40% are willing to “trade” personal information for personalization. > Permission, transparency and value sharing – pre-requisites going forward Involving consumers by asking for permission increases trust and willingness to share per- sonal information. Transparency improves attitudes towards the commercial applications of personal information. Lack of transparency invariably causes suspicion. Value creation for one party should correspond to value being shared with the other. > The value of personal information is in relationships The primary value of personal information will lie in its potential to build strong relationships be- tween consumers and businesses. used ac- cording to consumer praxis, personal informa- tion can: improve user experience, increase loyalty and increase sales. key findings “Consumerism” Industrialization Industrialization removed the customer from the producer, creating mass markets and economies of scale. The familiar customer became an anonymous consumer. Later in this era, businesses started building brands in an effort to re-connect and create a sense of personalization that had been lost due to the emergence of the mass market and middle men. ErIcsson consumErLaB PErsonaL InFormaTIon EconomY 3 “Face to face” Pre-Industrialization commercial trade before industrialization was predominately conducted face-to-face meaning personal information was shared all the time, particularly in reoccurring and tailored services. over time, the local vendor came to know a customer’s preferences. Hence personal information was gathered, but on a scale limited and comprehensible to those involved. “Engagism” Post-Industrialization The mass-market still prevails, however digitalization has enabled vendors to gain supreme knowledge about the buyers’ individual traits due to their digital footprints and sharing of personal information. In the days of Big Data, the consumer no longer comprehends what is shared, to whom or how it is used. By instead utilizing personal information in a fair manner, the quidpro quo logic of pre-industrialization can be re-established. > Consumer awareness still low – big data not an issue most consumers are aware that their personal information is collected for commercial purposes – more than 50% believe so. But why, how or ex- actly what it is used for is obscure to most. sensitivity of personal information should be understood principally from the perspective of the individual consumer and not from a vendor or usage perspective; anonymous big data is rarely perceived as a big issue. > Value creation over risk prevention If the consumer can see a clear and desired benefit from sharing personal information, concerns about sensitivity diminish. If the option is between sharing information and gaining something on one hand, and guarding informa- tion to avoid risk on the other, many consumers will go for sharing. more than 40% are willing to “trade” personal information for personalization. > Permission, transparency and value sharing – pre-requisites going forward Involving consumers by asking for permission increases trust and willingness to share per- sonal information. Transparency improves attitudes towards the commercial applications of personal information. Lack of transparency invariably causes suspicion. Value creation for one party should correspond to value being shared with the other. > The value of personal information is in relationships The primary value of personal information will lie in its potential to build strong relationships be- tween consumers and businesses. used ac- cording to consumer praxis, personal informa- tion can: improve user experience, increase loyalty and increase sales. key findings “Consumerism” Industrialization Industrialization removed the customer from the producer, creating mass markets and economies of scale. The familiar customer became an anonymous consumer. Later in this era, businesses started building brands in an effort to re-connect and create a sense of personalization that had been lost due to the emergence of the mass market and middle men. ErIcsson consumErLaB PErsonaL InFormaTIon EconomY 3 “Face to face” Pre-Industrialization commercial trade before industrialization was predominately conducted face-to-face meaning personal information was shared all the time, particularly in reoccurring and tailored services. over time, the local vendor came to know a customer’s preferences. Hence personal information was gathered, but on a scale limited and comprehensible to those involved. “Engagism” Post-Industrialization The mass-market still prevails, however digitalization has enabled vendors to gain supreme knowledge about the buyers’ individual traits due to their digital footprints and sharing of personal information. In the days of Big Data, the consumer no longer comprehends what is shared, to whom or how it is used. By instead utilizing personal information in a fair manner, the quidpro quo logic of pre-industrialization can be re-established. > Consumer awareness still low – big data not an issue most consumers are aware that their personal information is collected for commercial purposes – more than 50% believe so. But why, how or ex- actly what it is used for is obscure to most. sensitivity of personal information should be understood principally from the perspective of the individual consumer and not from a vendor or usage perspective; anonymous big data is rarely perceived as a big issue. > Value creation over risk prevention If the consumer can see a clear and desired benefit from sharing personal information, concerns about sensitivity diminish. If the option is between sharing information and gaining something on one hand, and guarding informa- tion to avoid risk on the other, many consumers will go for sharing. more than 40% are willing to “trade” personal information for personalization. > Permission, transparency and value sharing – pre-requisites going forward Involving consumers by asking for permission increases trust and willingness to share per- sonal information. Transparency improves attitudes towards the commercial applications of personal information. Lack of transparency invariably causes suspicion. Value creation for one party should correspond to value being shared with the other. > The value of personal information is in relationships The primary value of personal information will lie in its potential to build strong relationships be- tween consumers and businesses. used ac- cording to consumer praxis, personal informa- tion can: improve user experience, increase loyalty and increase sales. key findings “Consumerism” Industrialization Industrialization removed the customer from the producer, creating mass markets and economies of scale. The familiar customer became an anonymous consumer. Later in this era, businesses started building brands in an effort to re-connect and create a sense of personalization that had been lost due to the emergence of the mass market and middle men. ErIcsson consumErLaB PErsonaL InFormaTIon EconomY 3 “Face to face” Pre-Industrialization commercial trade before industrialization was predominately conducted face-to-face meaning personal information was shared all the time, particularly in reoccurring and tailored services. over time, the local vendor came to know a customer’s preferences. Hence personal information was gathered, but on a scale limited and comprehensible to those involved. “Engagism” Post-Industrialization The mass-market still prevails, however digitalization has enabled vendors to gain supreme knowledge about the buyers’ individual traits due to their digital footprints and sharing of personal information. In the days of Big Data, the consumer no longer comprehends what is shared, to whom or how it is used. By instead utilizing personal information in a fair manner, the quidpro quo logic of pre-industrialization can be re-established. > Consumer awareness still low – big data not an issue most consumers are aware that their personal information is collected for commercial purposes – more than 50% believe so. But why, how or ex- actly what it is used for is obscure to most. sensitivity of personal information should be understood principally from the perspective of the individual consumer and not from a vendor or usage perspective; anonymous big data is rarely perceived as a big issue. > Value creation over risk prevention If the consumer can see a clear and desired benefit from sharing personal information, concerns about sensitivity diminish. If the option is between sharing information and gaining something on one hand, and guarding informa- tion to avoid risk on the other, many consumers will go for sharing. more than 40% are willing to “trade” personal information for personalization. > Permission, transparency and value sharing – pre-requisites going forward Involving consumers by asking for permission increases trust and willingness to share per- sonal information. Transparency improves attitudes towards the commercial applications of personal information. Lack of transparency invariably causes suspicion. Value creation for one party should correspond to value being shared with the other. > The value of personal information is in relationships The primary value of personal information will lie in its potential to build strong relationships be- tween consumers and businesses. used ac- cording to consumer praxis, personal informa- tion can: improve user experience, increase loyalty and increase sales. key findings “Consumerism” Industrialization Industrialization removed the customer from the producer, creating mass markets and economies of scale. The familiar customer became an anonymous consumer. Later in this era, businesses started building brands in an effort to re-connect and create a sense of personalization that had been lost due to the emergence of the mass market and middle men. 133


Wireless Dealer Magazine CITA 2013 Issue
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