Amdocs Survey: Consumers Will Share Personal Data... at a Price

Consumers see value in sharing personal data in exchange for better service and rewards; data has the potential to be a new industry currency

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Amdocs

Jun 20, 2013, 06:00 ET

ST. LOUIS, June 20, 2013 /PRNewswire/ -- Amdocs, the leading provider of customer experience systems and services, today released the results of a survey that shows most consumers are willing to share extensive personal data, including family information and social network profiles, in return for an improved experience from their service provider.

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The survey, conducted by Coleman Parkes in April, identifies key strategies for service providers to adopt in order to gain permission to use their consumers' data, which can then be used to uncover customer insights as well as develop new revenue streams. According to the survey, 57 percent of consumers are willing to share additional personal information, such as their location, top five Facebook friends' names and information about family members, in return for financial rewards or better service, while 54 percent would even allow this data to be passed on to a third party, under the right conditions.

"The results of this survey indicate that fears about unwillingness on the part of consumers to share personal data have been overblown in the industry," said Ian Parkes of Coleman Parkes. "Many consumers are willing, even eager, to share information, provided they receive value in return from their service provider. With the additional ability to share this information with third parties, customer data has the potential to become a new form of industry currency."

Key findings of the global survey of 3,900 consumers include:

  • Consumers can be motivated to share: consumers said they would share additional personal information in return for better pricing plans (65 percent), improved network speed (61 percent), priority customer service (54 percent) and shared plans across devices (50 percent)
  • Show me the money: consumers were also open to a range of financial incentives to share personal information. Cash rewards (44 percent) were most highly valued, alongside loyalty program rewards (38 percent) and coupons or exclusive deals (39 percent). One-third (36 percent) said they would be happy to divulge information for free
  • Service providers can capitalize on consumer trust: with over half of all consumers (56 percent) considering their service providers trustworthy, service providers are well-placed to introduce new business models, such as selling data to third parties

"Service providers have a wealth of structured and unstructured consumer data and an established relationship with their customers," said Rebecca Prudhomme, vice president of product and solutions marketing at Amdocs. "Using Amdocs' advanced technologies and services, service providers can stay ahead and exploit the new revenue potential of big data and the customer insights it generates."

The survey is released the same day Amdocs announced its Big Data Framework consisting of data management platforms, analytics platforms and a business execution layer, along with the company's big data professional services practice, spanning consulting, data science, implementation and testing.

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About Amdocs
For more than 30 years, Amdocs has ensured service providers' success and embraced their biggest challenges. To win in the connected world, service providers rely on Amdocs to simplify the customer experience, harness the data explosion, stay ahead with new services and improve operational efficiency. The global company uniquely combines a market-leading BSS, OSS and network control product portfolio with value-driven professional services and managed services operations. With revenue of $3.2 billion in fiscal 2012, Amdocs and its 20,000 employees serve customers in more than 60 countries.

Amdocs: Embrace Challenge, Experience Success.

For more information, visit Amdocs at www.amdocs.com

Amdocs' Forward-Looking Statement
This press release includes information that constitutes forward-looking statements made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995, including statements about Amdocs' growth and business results in future quarters. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be obtained or that any deviations will not be material. Such statements involve risks and uncertainties that may cause future results to differ from those anticipated. These risks include, but are not limited to, the effects of general economic conditions, Amdocs' ability to grow in the business markets that it serves, Amdocs' ability to successfully integrate acquired businesses, adverse effects of market competition, rapid technological shifts that may render the Company's products and services obsolete, potential loss of a major customer, our ability to develop long-term relationships with our customers, and risks associated with operating businesses in the international market. Amdocs may elect to update these forward-looking statements at some point in the future; however, the Company specifically disclaims any obligation to do so. These and other risks are discussed at greater length in the Company's filings with the Securities and Exchange Commission, including in our Annual Report on Form 20-F for the fiscal year ended September 30, 2012 filed on December 11, 2012 and our quarterly 6-K filed forms furnished on February 12 and May 16, 2013.

SOURCE Amdocs

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