Research: Young people unfazed by handing over data

People in the 16-to-24 year old age bracket are more likely to trust businesses with their data than older generations, research shows.

More than 2,000 people took part in the poll, which was commissioned by data integration software provider Informatica.

According to its findings, Facebook, bank statements and search engine history are considered to be the top three sources of personal information.

Meanwhile, family doctors, banks and mobile operators emerged as the organisations people have the most confidence in not to share their data.

In total, just 35 per cent of UK adults trust business to use their personal data.

A third of respondents thought companies exploited their data by sharing it with third parties without permission, while half said sharing their personal data gave businesses the opportunity to invade their privacy.

However, it seems the younger generation is more willing to share personal information with businesses.

The research reveals 59 per cent of 18-to-24-year-olds and 48 per cent of 25-to-34-year-olds would be inclined to give personal information to business, if they knew what it would be used for.

Chris Boorman, chief marketing officer of Informatica, said the research highlights a trust issue between business and customers, which can be easily addressed through better communication.

"There's an opportunity for organisations to be more transparent with consumers when it comes to how they plan to use their personal information and what's in it for the consumer," Boorman said.

"Achieve this, and companies can forge stronger relationships with their customers."