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Related Experiment Videos

The coming battle for customer information.

J Hagel1, J F Rayport

  • 1McKinsey and Company, Silicon Valley, CA, USA.

Harvard Business Review
|December 8, 1996
PubMed
Summary
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Consumers are gaining control over their personal data, demanding value in exchange for information. New technologies and infomediaries will drive this shift, changing how companies acquire and use customer data.

Area of Science:

  • Business Strategy
  • Consumer Behavior
  • Information Management

Background:

  • Companies traditionally collect customer data for targeted marketing and service improvement.
  • Current data collection practices may face disruption due to evolving consumer awareness and technological capabilities.

Purpose of the Study:

  • To explore the anticipated shift in consumer control over personal information.
  • To analyze the impact of new technologies and infomediaries on customer data exchange.

Main Methods:

  • Conceptual analysis of consumer trends and technological advancements.
  • Forecasting the future landscape of customer data acquisition and negotiation.

Main Results:

  • Consumers are realizing the value of their data and will demand compensation.

Related Experiment Videos

  • Technological advancements empower consumers to manage and control their data.
  • Infomediaries are predicted to emerge as brokers for consumer data.

    • Conclusions:

    • Businesses must adapt their data strategies to a future of consumer-driven data exchange.
    • Negotiating for customer information will become more complex and costly.
    • Rethinking data acquisition and utilization is crucial for future customer engagement.