According to Enza Lannopollo (Researcher at Forrester), "organizations ability to protect the customer's privacy is the building block of trust and long-term relationship." According to the Mobile Ecosystem Forum (MEF) annual research report surveyed 15000 respondents, about 49% of respondents say that lack of trust limits them from downloading the app, 72% of the respondents are not happy with sharing personal data and 34% of the respondents say that lack of trust stops them from buying online apparels.
This shows that trust is one of the most important factors while buying, downloading or sharing personal data on mobile apps. Craig Piezle (executive director of the Online Trust Alliance), offered 9tips for making an effective transparency process:
1. Communicate the value to the consumer.
2. Have a clear and concise privacy policy written for the customers, not for your legal team.
3. Provide the ability for consumers to opt out.
4. Restrict any sharing with third parties.
5. Have a lawyer’s privacy policy with icons.
6. Consider having privacy policies written in multiple languages.
7. Define your retention practices.
8. Move from a compliance mindset to stewardship.
9. Embrace doesn’t track.
To know more about the benefits of using transparency and why transparency is important in today’s customer driven society. Read an article “Big Data: Protecting Privacy Is Good For Business” by Pam Baker (Author of Data Divination: Big Data Strategies) at: http://www.informationweek.com/software/enterprise-applications/big-data-protecting-privacy-is-good-for-business/a/d-id/1320367