Almost 9 out of 10 people say businesses that protect their data will win their custom– CBI East midlands

Business leaders will hear how to safeguard their organisations at the CBI’s Cyber Security Conference in Derby (Wednesday 7 November).  Keynote speakers include CBI Director of Infrastructure, Tom Thackray.

Recent CBI research shows that almost 9 out of 10 people say data security and the protection of personal information is the characteristic they look for when deciding where to spend their money. The CBI argues that a commitment to data privacy is a fundamental part of a business’s licence to operate.

As the pace of digital change accelerates, the evidence shows that there remains much for the business community to do in winning the trust of customers.

Speaking at the conference, Tom Thackray, CBI Director of Infrastructure, will say:

“As businesses move from the physical to the digital, cyber security has become central to a company’s existence. Cyber-attacks are a very real threat to business - just ask anyone who has picked up a newspaper.

“But a lesser understood trend is how cybersecurity has a direct effect on consumer trust.  Almost 90% of consumers see data security as the most important factor they look when thinking about where to spend their pay-cheque.

“Responsible data-use is the number one reason a customer will stay loyal to a business. And irresponsible data use is the main motive for looking elsewhere. Having a good cyber security strategy will make your business more competitive.

“Businesses must also go beyond legal minimums, such as having a privacy policy. They must give customers a clear roadmap of how their data is collected, used, shared, or erased.

“This seems like a lot. But, transparency tops the list of factors that make customers comfortable sharing their data.

“Your customers care. People need confidence in the way technology is getting smarter and solving problems.”

7 November 2018

Notes to Editors

The survey, carried out by Opinium in partnership with the CBI and Porter Novelli, was part of the wider Business Reputation tracker (page 20 onwards).

The CBI East Midlands Cyber Security Conference is taking place at the University of Derby on Wednesday 7 November.

The CBI would like to take this opportunity to thank the University of Derby, Browne Jacobson and Hallam for supporting the event.

About the CBI

Across the UK, the CBI speaks on behalf of 190,000 businesses of all sizes and sectors. The CBI’s corporate members together employ nearly 7 million people, about one third of private sector-employees. With offices in the UK as well as representation in Brussels, Washington, Beijing and Delhi, the CBI communicates the British business voice around the world.

Media Contact:

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