Privacy and Big Data: Safeguarding Consumers

High-profile security breaches, combined with the increased hacking risks of that come with smart devices, raise consumer concerns about the privacy and security of their personal information. However, big data and analytics are key tools for success with connected home products and systems. This report evaluates consumer concerns and preferences, assesses the security and privacy issues in the current market, and looks at best practices for companies to store and use consumer data while providing consumers with the necessary levels of privacy and security.

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1.0          Report Summary

1.1          Purpose of Report

1.2          Scope of Report

1.3          Research Approach/Sources

2.0          Privacy Concerns and Big Data Opportunities Emerge from IoT Expansion

2.1          Growth in Connected Home Products and Services

2.1.1      Smartphone Forecast (2014-2019)

2.1.2      Smart TV Forecast (2012-2019)

2.1.3      Forecast for Smart Home Controllers (2013-2019)

2.1.4      Networked Medical Devices Forecast (2014-2019)

2.1.5      Connected Fitness Devices Forecast (2014-2019)

2.2          Growth in Connectivity

3.0          The Data Privacy and Security Ecosystem

3.1          Top Ten Threats

3.2          Device Vulnerabilities

4.0          The Risks of Data Retention and Costs of Data Breaches

4.1          Business Operations Risks

4.2          Costs for Companies

5.0          Sources and Value of Big Data

5.1          Consumer Profile Data

5.2          Personally Identifiable Information (PII)

5.3          Media Interaction Data

5.4          Quality of Performance Data

5.5          Payment Card Industry (PCI) Data

5.6          Public Data

5.7          Data Moves the Levers: Creating Value from Big Data

5.7.1      General Business Value Levers

5.7.2      Specific Big Data Levers for the Smart Home Sector

6.0          Consumer Perspectives on Privacy and Big Data

6.1          The Risk and Rewards of Big Data for Consumers

6.1.1      The Risks

6.1.2      The Rewards

6.2          Consumer Privacy and Security Concerns for Connected Devices

7.0          Finding the Sweet Spot

7.1          Privacy as Incidental to the Product versus Essential Feature

7.2          Security as Ancillary versus Core Business Function

7.3          Security as Risk Management versus Business Agility

7.4          Consumer Education versus Consumer Security-Informed UI

7.5          Low Bar versus Best Practices

7.6          Proprietary Concern versus Shared Solutions

7.7          Big Data versus Smart Data

8.0          Appendix

8.1          Glossary

8.2          Index of Companies

Timeline of Device Adoption
Forecast: Smartphone Unit Sales in U.S.
Forecast: Smartphone Penetration in U.S.
Forecast: Unit Sales of Smart TVs in U.S.
Forecast: Penetration of Smart TVs in U.S. Broadband Households
Forecast: Smart Home Controller Unit Sales in U.S.
Forecast: Smart Home Controller Penetration in U.S.
Forecast: Networked Medical Device Unit Sales in U.S.
Forecast: Connected Fitness Tracker Unit Sales in U.S.
Forecast: Connected Fitness Tracker Penetration in U.S.
Forecast: Global Fixed-Line Broadband Homes
Forecast: Global Mobile Broadband - 4G/LTE Subscribers
Data Privacy and Security Ecosystem
Device Vulnerabilities and Remedies
Building Security in Maturity Model
Privacy Policy Word Count and Transparency & Choice Options
The New Technology Stack
Smart Home Big Data Levers, Concerns, and Cloud Services
Level of Privacy & Security Concern by Device Category
Privacy or Security Concerns for Smart Home Device Owners versus Non-owners
Leading Privacy and Security Concerns by Device Category
Effectiveness of Privacy Rights to Relieve Concerns
Incremental Impact of Privacy Rights on Concerns
Willingness to Share Data by Owners of Connected CE Devices
Willingness to Share Data by Owners of Fitness Health Devices
Willingness to Share Data by Owners of Smart Entry Devices
Willingness to Share Data for Benefits by Specified Age Groups
 

Publish Date: 3Q 2015

Pages: 71


Authored By:
Brad Russell - Senior Analyst

© July 2015 Parks Associates
All rights reserved.  No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.

Printed in the United States of America. 

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Parks Associates has made every reasonable effort to ensure that all information in this report is correct.  We assume no responsibility for any inadvertent errors.

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