midata to give marketing data back to consumers - but are firms ready?
As few as 10% of UK companies with large customer databases are ready to respond to the coalition government’s ‘MyData’ initiative, which aims to provide consumers with online access to data collected about them for marketing purposes.
A key goal of the scheme, which forms part of the government’s freshly published ‘Consumer Empowerment Strategy – Better Choices: Better Deals’ approach, is to create a new market for service providers to aggregate and crunch such data in order to present it in a comprehensible format for consumers.
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