Australian consumers believe they are not getting equal value in return after giving up their value personal data to companies, a recent study has shown.

Only about 34 per cent of Australians said they have received improved service or adequate benefits in return for the personal data they have given, according to the recent research undertaken by the Association for Data-Driven Marketing and Advertising (ADMA), and Global Alliance of Data-Driven Marketing Associations (GDMA).

ADMA, part of the AADL Network, and GDMA’s research provides a unique insight into the viewpoints of consumers as well as their expectations with regard to the use of their personal data. The research is also for businesses and organisations, a guide on how they can increase consumer confidence and trust.

The study revealed consumers do display concern over online privacy but it also showed signs of their rising acceptance of data sharing. About 59 per cent of Australians are concerned about the issue of online privacy but a similar proportion (61 per cent) also claim they are more aware of how their data is used and collected than in the past.

Today, about 53 per cent of Aussie consumers are happy with the amount of personal information they give to organisations. Forty-four per cent agree that they feel more comfortable about the issue of exchanging personal information with companies than in the past.

According to the study, Australians see the idea of data as a personal asset that can be traded as an appealing concept and 77 per cent would prefer to hold their own data and exchange it when they choose.

While most consumers feel they should take ultimate responsibility for their data, currently Australians do not feel a great sense of control over their data sharing and data exchanges with companies. Eight-one per cent want to have more control.

Steve Sinha, acting CEO and COO of AADL, said organisations need to invest further in strategies to ensure trust, transparency and choice are front and centre, and those who deliver on these attributes will be the ones that succeed in the future.

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