BCG projects that the value created through digital identity could be: €1 trillion in Europe by 2020, or roughly 8% of the combined GDP of the EU-27. For European businesses and governments, the use of personal data will deliver an annual benefit of €330 billion by 2020—bringing growth to an otherwise stagnant economy.
An increase in newly available data on consumers will meaningfully shift market shares. But without consumer trust, most of the trillions of dollars of social and economic value promised from big data will go to waste. BCG estimates that two-thirds of the total value potential stands to be lost if companies / organisations fail to establish a trusted flow of personal data
This report from Boston Consulting Group, based on surveys of 10,000 people, takes the temperature on how consumers around the world are feeling about the collection and use of personal data. Looking at how this varies by country, generation, and by industry, and also at how significant the gains can be for companies if they successfully build the consumer's trust in gathering and use of data.
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