According to a new report by Accenture, companies that aim to stay ahead in the evolving digital landscape must prioritize consumer privacy, give users greater control over their data, and maintain transparency in their data practices. This insight comes from Accenture’s Technology Vision 2019 report, which identifies emerging technology trends that will reshape business strategies over the next few years. We agree—privacy and data transparency are no longer optional, but essential for future success.
What Does Post-Digital Mean?
Accenture posits that we are in a phase of “digital saturation,” where the constant flow of digital products and services has become the norm. In a post-digital world, digital itself is no longer an innovation or a differentiator for companies. Instead, businesses will need to think beyond traditional digital offerings to truly stand out.
However, digital is far from over. The report clarifies that its impact continues to redefine relationships between businesses and society, shaping consumer expectations and interactions. As this shift occurs, companies must adapt to these evolving relationships in order to remain competitive.
The Risks and Opportunities for Organizations
The past year has highlighted the risks associated with consumer data privacy, particularly as high-profile privacy scandals involving brands like Facebook and Google have damaged their reputations. These incidents have sparked a broader conversation about privacy, shifting the dynamics between consumers and businesses.
Despite the risks, the report points out that this is also a moment of great opportunity. The era ahead will bring intense pressure as customers, employees, and society at large voice their demands for greater privacy and transparency. However, those organizations that respond effectively will find tremendous opportunities to build trust and loyalty.
The Move Toward Individualization
The concept of “individualization” is central to the report, referring to the idea of creating highly personalized experiences for each consumer. As technology evolves, organizations have new ways to deliver tailored products and services, making the “market of one” a reality.
However, as companies strive to personalize experiences, they must be cautious of crossing into “creepy” territory. The report emphasizes that the line between “useful” and “intrusive” varies from person to person, and businesses must navigate this with sensitivity to each individual’s privacy preferences. This aligns with what we’ve discussed in the past—consumer beliefs about privacy are diverse, and companies must respect these differences.
Respecting Privacy: The Cost of Being “Creepy”
Technological advancements have made it easier than ever to track personal information, from heart rates and sleeping patterns to the location of household items like toothbrushes. While some of this data collection can be useful for consumers, many individuals feel uncomfortable with such detailed tracking.
The report warns that companies that overstep privacy boundaries risk damaging their brand. As consumer trust is fragile, going too far in data collection can cause irreversible harm. “Crossing the red line” could mean losing a customer’s trust for good.
Data Collection: Just Because You Can, Doesn’t Mean You Should
Paul Daugherty, Accenture’s Chief Technology and Innovation Officer, emphasizes that businesses should question the necessity of collecting certain data. “Just because you can do something doesn’t mean you should do something,” he states. This resonates with the principles of Privacy by Design, which have guided Tap’s development. From the very beginning, we’ve asked ourselves: “Do we really need this data?” and “Is it ethically right to collect it?”
This mindset should be at the core of all data collection practices—businesses must ask themselves whether gathering certain data is truly necessary or just driven by convenience.
Building Consumer Trust
To succeed in the post-digital era, businesses must foster deep, lasting trust with their customers. The report stresses that integrating personalized experiences into consumers’ lives requires a strong foundation of trust, which can only be built through consistent, respectful interactions.
As the report concludes, organizations that prioritize trust and transparency will be best positioned to lead in the post-digital world, gaining the continuous insights needed to stay ahead.
In conclusion, the future of data collection and consumer privacy will revolve around businesses prioritizing transparency, individual privacy preferences, and ethical data practices. Companies that build consumer trust while respecting privacy will emerge as leaders in the post-digital age.