Brands and businesses are now viewing the practice of ethical data usage as a way of gaining and retaining consumer trust. Day by day, with more and more people being conscious as well as concerned about their privacy online, businesses need to make sure that there is no data breach.
Ethical Data Usage as Brand Strategy
Ethical data usage is also one of the means of increasing awareness and solidifying the brand reputation in the market. Data is a crucial aspect for any brand conducting its business online and offline as well. Whichever way the data is used, it has an impact on people’s everyday lives. It is an ongoing debate as to whether the use of data is acceptable in mitigating circumstances owing to the rising concern regarding privacy. Research has proved that users tend to share more of their personal information with businesses that are clear and forthright about their data usage practices. Mobile app users all over the world are searching for credible options online where they can place their private data up to a limit. They are aware of the fact that companies can be held liable for their data management practices if the practices are found to be unlawful. Brands and businesses with good and strict privacy policies take precedence over others.
The Union Cabinet has approved the draft Indian Personal Data Protection Bill. It is just a matter of time before the Bill is passed. Indian businesses need to tighten their privacy policies in lieu of the circumstances.