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SAS Study: Millennials Want More From Their Data
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A new study by SAS finds that the Millennial generation is also the “Data Generation,” more aware of the value of their personal information and more demanding of the results that come with revealing their personal information.
The study found that eight out of 10 of those surveyed guard their data unless they get something in return, and nearly 70% agreed that their personal information is a “bargaining chip” that can better enhance their lives.
Members of this “Data Generation” demand personalized services from brands, and SAS warns companies to not ignore the generation. “[They] risk failing to survive in this new environment if they don’t exploit open and cloud-ready advanced analytics to better understand these customers,” the report reads.
Millennial habits, preferences and moods should all be taken into account when it comes to predictive analytics, and they know the value of their data, according to the report, with only 12% saying they were happy to share their personal data without thinking about it. However, 57% said they would be willing to share their data if it made their lives easier.
“The ‘Data Generation’ [is[ amenable to sharing more forms of data, provided it gives them control as they navigate turbulent macro-economic conditions and fluid career projections,” said Mark Wilkinson, SAS regional VP of Northern Europe. “The organizations that will prosper in the future, will demonstrate how they can enhance the ‘Data Generation’s’ life potential and that of society.
“This will require organizations to embrace analytics architectures that are more accessible, flexible and can easily scale to problems of any size. All industries need access to a simple, open and cloud-ready platform that can complement other technologies and open source software.”
