IT security is often treated as insurance — something you have to spend on but which doesn’t deliver any actual value. Forrester analyst Michael Barnes reminds us that in an era where breaches are increasingly common, strong security and governance can actually be a means of attracting customers.
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In a discussion of the use of analytics to improve customer experience, Barnes notes that customer data needs to be kept secure, and that this can have other benefits:
As companies collect and analyse a plethora of consumer data to gain insights into customer behaviour and thus purchasing patterns, the need to store this data securely and control access becomes all the more pressing. Companies that have strong data governance — setting ethical guidelines on how data should be properly accessed and stored securely — are unlikely to face backlash from the public. Quite the opposite: they will increase customer loyalty as consumers trust and have confidence in the company’s products and services.
It’s a point worth remembering. Hit the post for more thoughts on how customer data should be analysed.
The Case For Optimising Customer Analytics — Improve or Perish [Forrester Blogs]