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CUSTOMER DATA: Designing for Transparency and Trust - Coggle Diagram

- - - - Take Medtronic's digital bloodglucose meter.
        It wieelessly connects an implanted sensor to a device that alerts patientes and health care providers that blood-glucose levels are nearing troubling thresholds.
        
        At the same time, consumers appreciate that date sharing
        can lead to products and services that make their lives easier and more entrtaining, educate them, and save thm money.
- - - - The responses revealed significant differences from
        country to country and from one type of data to another.
- - - - Out surveys reveal that when data is used to improve a product or service, consumers generally feel the enhancement itself is a fair trade for tehir data.
        
        Firms that sell personal informations to third parties, however, have a particylarly high bar to clear, because consumers expect the most value for such use of their data.
- - - - Consider the belated trust-building efforts under way at Facebook. The firm has been accused of riding roughshod over user privacy in the past, launching services that pushed the boundaries on personal data use and retrating only in the face of public bcasklash or the thret of litigation.
        
        More recently, however, Facebook has increased its focus on safeguarding privacy, educatins users, and giving them control.
        
        Cook explains, "Our business model is very straightforward: We sell great products. We don't build a profile based on your email content or web browsing habits to sell to advertiserts."
- - - - After primary care doctors, new finance firms such as PayPal and Chinas' Alipay received the highest ratings on the scale, followed by e-commerce companies, consumer electronics makers, banks and insurance, companies, and telecommunications carriers.
        
        A firm that is considered untrustworthy will find it difficult or impossibles to collect certain types of data, regardless of the value offered in exchange.
- - - - The patients see all their own data and control how much data goes to whom, using a browser and an app.
        
        Deliver in-kind value Business needn't pay user for data. The music service Pandora was built on this principle. In designing its service, Pandora understood that customers are most willing to share data when they know what value they'll receive in return.