THEY’RE READY, AREYOU?
THEY’RE READY, AREYOU?A new global independent consumer survey, commissioned by Infosys, shows a gap betweenthe personal i...
Towards one worldBroadly there is a high degree of consistency across the five countries surveyed. Most responsesvary by l...
4THEY’RE READY, AREYOU?The data trade in retailThere is an overwhelming agreement amongst consumers that retail ads and pr...
5Social media plays a part in influencing consumer purchasing behavior, as over half (53%) agreethat they would be more li...
6THEY’RE READY, AREYOU?The data trade in bankingAlmost half of bank customers (49%) do not want their purchase and transac...
7Over six in ten (63%) want their bank to communicate their account and transaction informationvia alerts to their mobile ...
8THEY’RE READY, AREYOU?The data trade in healthcareNearly all (88%) patients believe doctors should have their medical his...
9Most (80%) believe that their doctor’s office has the security measures in place to protect theirpersonal details. Nine i...
10THEY’RE READY, AREYOU?PsychographicsConsumers are most likely to say that companies and healthcare providers analyzing c...
www.infosys.comMethodology & research partnersThis comprehensive global research project studied consumer sentiment on big...
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Engaging with Digital Consumers: They’re ready, are you?

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Infosys, a global leader in business consulting and technology solutions, has unveiled the first major study that scrutinizes an ever-widening data gap between digital consumers and the retail, banking, and healthcare companies that serve them.
The results of the study are a call to action for global corporations to leverage the latest data mining technologies. Harnessing Big Data 2.0 will have enormous business opportunities in tomorrow’s marketplace.

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Transcript of "Engaging with Digital Consumers: They’re ready, are you?"

  1. 1. THEY’RE READY, AREYOU?
  2. 2. THEY’RE READY, AREYOU?A new global independent consumer survey, commissioned by Infosys, shows a gap betweenthe personal information consumers are willing to provide online and the ability of companies toleverage that data.Infosys, a global leader in business consulting and technology solutions, polled 5,000 digitallysavvy consumers in five countries – Australia, France, Germany, the United Kingdom and theUnited States. The results are a first glimpse of the varying degrees to which people will tradepersonal data with organizations in the retail, banking, and healthcare sectors.The survey also shows that for all the attention companies give big data initiatives, they are noteffectively using the mountains of information they have at their disposal.This paper reports the extent to which consumers around the world behave in similar ways, thedata trades they are willing to make in retail, banking and healthcare, and provides a picture ofthe engagement level of consumers in the digital world.256%40%49%51%25%70%Share information purchasing onlineOver half of consumers always orusually share personal informationwith retailers when buying online,with four in ten doing so in storeHalf of consumers always or usuallyshare information with their bank –regardless of whether this is onlineor in personOnly a quarter of consumers alwaysor usually share information withtheir doctor’s office online, but aremuch more likely to do so in person.This contrasts significantly withretailers and banks, where consumerbehavior is more consistent betweenonline and in personThe Personal Data ExchangeConsumers regularly share personal information, both online and in personShare information purchasing in a storeInteracting with your bank onlineInteracting with your bank in personInteracting with your doctor’s office onlineInteracting with your doctor’s office in personUnderstanding how, where and with whom digital consumerswill share personal data
  3. 3. Towards one worldBroadly there is a high degree of consistency across the five countries surveyed. Most responsesvary by less than 10% between the countries.Europeans’ general attitude toward big data has more concerns about its invasive nature thanthe United States (four out of ten Europeans see it as invasive, as opposed to just three out of tenconsumers in the United States, who are generally more positive and open in sharing personaldata).Australian consumers are as concerned as Europeans regarding the invasive aspect, but are morelikely to recognize the positive aspects of big data (and so are more in line with the positivity seenin consumers in the United States).Germans have greater concerns about privacy than other countries surveyed – consumers heregave consistently lower ratings when asked how comfortable they were with revealing personaldetails.379%Geographic Data Sharing PreferencesConsumers from different countries vary slightly in how comfortable they are sharing information onlineU.KFranceAustraliaGermanyUnitedStatesWhile making a purchaseonlineWhen interacting with yourbank onlineWhen interacting with yourregular doctors office online78%69%75%62%60%50%56%57%74%75%60%88%83%77%French consumers are significantlyless comfortable about sharinginformation online with their bankthan with retailers, the largestdifference across all of the countriessurveyed. German consumers aremost likely to be cautious across allthree areas, with consumers in theUnited States being the mosttrusting
  4. 4. 4THEY’RE READY, AREYOU?The data trade in retailThere is an overwhelming agreement amongst consumers that retail ads and promotions donot resonate; channels most likely to be least appealing are ads through mobile apps (75%),email (72%), online (72%) and in-store (62%). However, over three quarters (78%) agree that theywould be more likely to purchase from a retailer again if they provided offers targeted to theirinterests, wants or needs, and around two-thirds (71%) feel similarly if offered incentives basedon location. Consumers have limited issues with more individualized ads and promotions, butfeel current marketing efforts from retailers have not been effective in resonating with them ona personal level.Around half are prepared to share online preferences and shopping behaviour in exchange forreceiving ads/promotions that are more targeted to their interests, wants and needs (50%) andlocation (48%). Just over two fifths (43%) do not mind if their smartphone or tablet location ismonitored if it means they receive incentives targeted to their local area.Almost eight in ten consumers are more likely topurchase from a retailer when provided withtargeted offersYet less than half are willing to trade some privacyin order to receive incentives based on onlineshopping behaviorSeven out of ten consumers are more likely topurchase from a retailer when provided with offerstargeted to locationTargeted OffersConsumers want retailers to provide targeted offers, but are often reluctant to provide the data required to do soI would be more likely to purchase from aretailer again if the retailer provided me withoffers targeted to my interests, wants andneedsI would be willing to trade some privacy forincentives tailored to my online or mobileshopping habitsI would be more likely to purchase from aretailer again if the retailer provided me withoffers targeted to my locationI don’t mind if my mobile apps track mysmartphone’s or tablet’s location if it means Ireceive ads or promotions that are targeted tomy local areaI would be more likely to purchase from aretailer again if the retailer kept me updatedon new offers and services via social media78%45%71%43%57%Yet less than half are happy to have their locationtracked via their smart device in order to receiveoffers targeted to locationAlmost six in ten would be more likely to purchaseif updated on offers via social media
  5. 5. 5Social media plays a part in influencing consumer purchasing behavior, as over half (53%) agreethat they would be more likely to use a retailer again if their friends or family say they use theretailer themselves via a social network.Over half of consumers (56%) will usually or always share information about themselves whenthey make online purchases, compared to just 40% when shopping in store. They are more likelyto be comfortable sharing personal information when making purchases online (75%) than theywould be in store (70%).Almost all (93%) would be willing to share at least one piece of personal information if it meansthey receive more customized offers. The majority of consumers would be willing to share theiremail address (78%) and ZIP code (64%), with only a minority willing to share any other details;the third piece of information likely to be shared - date of birth – would only be shared by arounda third (38%).78%64%38%38%30%13%Email addressThe majority of consumers arewilling to share their email addressand ZIP code with their retailer if itmeant receiving customized offersor having a more personalizedexperienceSignificantly fewer consumers arewilling to share more detailedpersonal informationThe Retail Data TradeConsumers are choosy over which details they are willing to share with retailersZIP codeDate of birthPostal addressMarital statusSocial media profile informationAlmost nine out of ten consumerswere unwilling to share social mediainformation with their retailer. Thisis despite 57% saying earlier thatthey would be willing to purchasefrom retailers if they were keptupdated on offers via social media –so consumers are willing to benefitbut retailers will need to work hardto obtain this information
  6. 6. 6THEY’RE READY, AREYOU?The data trade in bankingAlmost half of bank customers (49%) do not want their purchase and transaction data used tooffer new services based on their habits. Consumers are more concerned with their accountsecurity, as around four fifths (82%) want their banks and financial providers to mine their datato detect anomalies from identity thieves, with the same amount (82%) expecting their banks toalready be doing this. It is such an important issue that just over three quarters (76%) agree thatthey would consider changing banks if one offered assurances that their data and money wouldbe safer in their systems.Eight out of ten consumers expect their bank touse their data to help protect them from fraudThree quarters would consider switching banks onthe basis of how safe their data and money isYet just half would want their bank to use theirdata to provide targeted offers customized toneedsExpectations on Data Usage by BanksMost consumers expect their banks to use their data to help protect them, but half do not want them to use it to offerservices and updatesI expect my banks and financial providers to“mine”or review my purchase data to detectanomalies from identity thievesI would consider switching banks if a bankoffered proof and/or assurances that my dataand money is safer with their systemsI want my bank and financial providers to usemy purchase and transaction data to offer menew services or offers customized to myhabits/needsI want my bank and financial providers to useexternal sources such as interactions, events,social media, and emails to provide me withvaluable updates and insights82%76%51%48% And under half want their bank to use events,email or social media to provide them withupdates and insights
  7. 7. 7Over six in ten (63%) want their bank to communicate their account and transaction informationvia alerts to their mobile phone and almost half (48%) want banks to provide them with valuableupdates and insights through events, social media and email.A significant number of consumers are concerned about the level of service and lack of processesthat their bank offers: more than a third (35%) feel that their current bank or financial institutiondoes not have a clear process for addressing fraudulent issues.The majority (85%) share at least some personal information when banking online and sevenout of ten (71%) are comfortable with doing so. However, a greater number of people (87%) aremore comfortable sharing personal details with a bank in person, compared with online. Nine outof ten (91%) would be willing to share at least one piece of information if it meant they receivedmore customizable offers and experiences, with email address (73%), ZIP code (60%) and postaladdress (49%) being the most likely shared.73%60%49%45%43%9%Email addressEmail address and ZIP code areagain the two pieces of informationthat the majority are willing to sharein order to get a more personalizedservice from their bankHowever, compared to retailers, thegap between the top twoinformation types and the others issmaller. Consumers are slightly morelikely to feel comfortable sharingmore personal details with theirbank than they are with retailersThe Bank Data TradeAs with retailers, consumers are willing to share some information with banks for a more personalized experienceZIP codePostal addressPhone numberDate of birthSocial media profile informationAgain, very few consumers are willingto share social media information
  8. 8. 8THEY’RE READY, AREYOU?The data trade in healthcareNearly all (88%) patients believe doctors should have their medical history and health statusavailable electronically at the time of treatment. The majority of people would be willing to signup for services that better enabled communication between patient and doctor, including anapp/website that helps coordinate appointments (72%) and an app/website that helps patientstrack their health goals (64%).Almost nine out of ten consumers thinkthat a patient’s medical history/currenthealth should be readily available duringappointmentsEight out of ten are confident that theirinformation is safe with their doctor’sofficeSeven out of ten would sign up for anapp that helps them coordinate withtheir doctor’s officeSharing Healthcare-related DataMost consumers are happy to share information with healthcare professionals in various different waysPhysicians should have patient information(medical history or current health status)readily available electronically duringappointmentsI am confident that my doctor’s office has theright security measures in place to protect mypersonal medical informationI would sign up for an app/website thathelped me to coordinate with my doctor’soffice (appointments, etc.)I would sign up for an app/website thathelped me communicate with my doctor’soffice (to share symptoms, track diet, get testresults etc.)88%80%72%69% Almost seven out of ten would sign upfor an app that helps them communicatewith their doctor’s office
  9. 9. 9Most (80%) believe that their doctor’s office has the security measures in place to protect theirpersonal details. Nine in ten believe that measures are in place, meaning that most are happy toshare personal data at a doctor’s office (90%) and almost as many are happy to do so at a localhospital (89%).People feel much more comfortable sharing personal information with their regular doctor’soffice in person (95%) than they are through online methods (63%). However, despite being anemerging technology, over half (56%) of consumers are comfortable sharing personal details withtheir doctor’s office through a mobile device.Almost all (94%) would share at least one piece of personal information if it meant they receiveda more personalized experience at their regular doctor’s office. The majority are happy to sharetheir email address (69%), ZIP code (62%), date of birth (60%), phone number (60%), and postaladdress (59%).69%Email addressThe majority of consumers arewilling to share many pieces ofgeneral personal information withhealthcare professionalsBut fewer are willing to share vitalmedical information with theirdoctor’s office in order to get amore personalized experienceThe Healthcare DataTradeConsumers are more willing to share personal information with healthcare professionals than with banks and retailersZIP codePhone numberDate of birthPostal addressInformation on your physical activity or exercise Fewer than one in ten consumerswilling to share social mediainformation62%60%60%59%47%43%41%38%8%Your family’s medical historyMedical coverage or insurance informationPersonal medical historySocial media profile information
  10. 10. 10THEY’RE READY, AREYOU?PsychographicsConsumers are most likely to say that companies and healthcare providers analyzing consumerdata are ‘invasive’ – 39% say this, though the next three most selected answers are morepositive: ‘helpful’ (35%), ‘convenient’ (33%), and ‘time-saving’ (32%). Although they might feeluncomfortable about companies scrutinizing their data, they recognize the benefits of doing so.In a typical day, on average, consumers spend 1.3 hours using a mobile/smartphone for personaluse, 2.4 hours using a computer/tablet for personal use, 2.3 hours surfing the Internet for personaluse, 1.1 hours accessing social networks, 1 hour watching television or movies on a computer/mobile device and 0.9 hours listening to streaming radio or music on a computer/mobile device.Consumers are twice as likely to use the same mobile/smartphone device for both work andpersonal use (50%) than using different devices for this reason (22%).When making a big or expensive purchase, the majority will compare products/services online(94%) and will search to compare prices across stores or retailers (92%). However, more likely thannot (63%) consumers will make the purchase in store rather than online.39%Invasive‘Invasive’is the most often selected termconsumers use to describe this, though thenext four most often selected terms are allpositive. There is no attribute that emergesas the single most popular, showing thereis no general consensus as yet of howconsumers view Big Data in this context.Consumer Views on Data AnalysisConsumers have mixed feelings about organizations analyzing consumer data to provide more customized experiencesHelpfulConvenientTime-savingGood ServiceInnovative35%33%32%27%27%26%23%21%21%DangerousExperimentalIrritatingUnneccessary15%Accurate
  11. 11. www.infosys.comMethodology & research partnersThis comprehensive global research project studied consumer sentiment on big data issues inthe retail, financial services, and health care industries in Australia, France, Germany, the UnitedKingdom, and the United States. The study polled 1,000 consumers in each country via an onlinesurvey for a total global sample of 5,000 adults between the ages of 18 and 69. Independentresearch firms KRC and Vanson Bourne conducted the study; KRC surveyed the United Statesbetween May 3rd and 7th, 2013 and Vanson Bourne surveyed the remaining countries betweenMay 8th and 22nd, 2013.To qualify for the survey, respondents had to be active Internet users andindicate that they have made an online purchase during the previous six weeks. The majority ofrespondents also had to indicate they owned a smartphone or tablet computer (80%).

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