Yesterday was Data Privacy Day. I hope you have a great party but will understand if you don’t post pictures. Meanwhile, Cisco last week reported that 65% of companies have seen a delayed sale due to privacy concerns, with an average delay of nearly two months. Companies with more mature privacy processes reported shorter delays. They were also less likely to have suffered a privacy breach. In other words, strong privacy is good business.
If you think it’s hard to measure the value of data privacy, try measuring the value of good customer experience. According to survey vendor Confirmit, just 20% of companies do well at measuring the Return on Investment of their customer experience programs. Poor data integration and low management support were the biggest roadblocks to CX success.
In fact, companies struggle to measure a lot of things. This survey from Qlik suggests one reason is a lack of basic data literacy skills. Just one-quarter of junior- and mid-level employees classified themselves as data literate while 74% felt their company would value them more if they improved their data literacy level. Encouragingly, 82% said they’d be willing to invest more time and energy in improvement. Click here to rate your own data literacy skills.
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