Tackling Business Problems | HBR
Via Scoop.it – digital culture
Vendors have been amassing and mining customers’ personal data for years, armed with increasingly sophisticated and aggressive techniques and dazzled by fantasies of “personalizing” marketing to the maximum extent possible. Customers naturally see this trend as a gross invasion of their privacy and are starting to resist providing accurate information—or any information at all. But the main reason for vendors to quit this practice is not that it’s bad manners. It’s that businesses soon will no longer own the data anyway—customers will. And when that happens, vendors will end up reaping greater benefits than they do now.