Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Thursday, 24 October 2024

Personal Data Rights : How about Monetization ?

 


Article link:

Consumers worried about data breaches, says PwC India survey - The Economic Times


Extract from the article:

The article highlights the concerns of consumers regarding data breaches, as revealed by a survey conducted by PwC India. It emphasizes the growing unease among consumers about the security of their personal data due to increasing incidents of data breaches. The survey sheds light on how these breaches can significantly impact consumer trust in businesses, leading to potential repercussions such as decreased customer loyalty and engagement. Additionally, it underscores the importance for companies to prioritize data protection measures to regain consumer confidence and ensure the safety of sensitive information.


My Take:

 

An Exam with a Difference

 

In my blog from 2015, I discussed the idea of utilizing online questionnaires with a detailed ranking system and weightage allocation for different parameters to gather valuable insights. This concept aligns well with the current issue of data breaches highlighted in the PwC India survey. Implementing a structured approach like the one I proposed could help organizations in assessing and enhancing their data security measures effectively.


Call to Action:

To the businesses mentioned in the PwC India survey, I urge you to take proactive steps to address consumer worries regarding data breaches. Implement the suggestions put forth in the survey to strengthen your data security protocols and rebuild trust with your customers. By prioritizing data protection measures, you can not only safeguard sensitive information but also foster long-term relationships with a loyal and trusting consumer base.

 

 

With regards,

 

Hemen Parekh

 

www.My-Teacher.in  /  25 Oct 2024

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