Press Releases

UnboundID Research Shows Real Identity Data to be 100 Times More Valuable than Anonymized Data

Research also reveals that capturing informed user consent is key to unlocking customer trust

SAN DIEGO, CaliforniaJuly 30, 2013UnboundID, a leading platform provider for identity data, today released new research at the Gartner Catalyst Conference that offers insight into the value of a consumer's digital identity. The report, "Valuing Identity in Today's Digital World," shows that using real identity data increases a consumer's profile value by up to 100 times when compared to aggregated, anonymous data. Real identity data is valued in the hundreds of dollars (up to $124 per identity) as compared to pennies on the dollar for aggregated, anonymous data.

The study, conducted by Compass Intelligence, polled over one thousand digital-savvy adults in the United States, Canada and the United Kingdom. It defines digital identity as comprised of elements such as identifiers (name, address and age), connections (social networks), behavior (viewing or usage), preferences and more. Fifty-one percent of respondents in the survey said that they want their digital identity data to improve the experience provided to them.

"There's great value for corporations who choose to properly use digital identity data to market to individuals, not segments," said Andy Land, Vice President of Marketing at UnboundID. "Consumers already know that companies use their data – the key is to use their data to create a better experience for the consumer. Tying multi-source data together with user consent creates a comprehensive identity profile, resulting in enhanced, more personalized marketing to the end user."

Corporations gain value from digital identity data by lowering the cost of identifying customers, which currently runs upwards of $12.4 billion annually, according to the research. Corporations can also create new revenue streams by making data the product itself, providing high-quality identity information to enterprise customers as a service, and even offering end-user customers a way to manage and control their identity information. These business models are only possible when the user is given transparency, choice, and control over their data, and they trust the company to honor their choices.

The survey allowed consumers to place a value of their digital identity data, and they rated the value of information shared on social media sites such as Facebook and Google+ between $62.79 to $106.40. Executives who participated in the survey listed the price they would pay for "real" identity data about their contacts at up to $124 per contact. The research study also provides insight into how companies can value their customers' data, the aspects that most significantly affect monetary value of identity data and ways to utilize the data to provide economic benefits to the corporation.

"Our interviews, whether with telcos, retailers, health care providers or financial institutions, proved over and over that what companies want is real customer data," said Kneko Burney, Founder and Chief Strategist at Compass Intelligence. "Getting that data out of the silos within their companies and really defining the value of the identity data gives them an advantage over their competition."

For more on the research study, click here.

About UnboundID Corp.

UnboundID is a leading platform provider for identity data, enabling companies to dynamically manage, protect, and share customer data in real-time across cloud, mobile and social applications. UnboundID solutions help companies increase average revenue per customer while significantly lowering their costs for service and application delivery. UnboundID is a privately held company based in Austin, Texas, and is funded by Silverton Partners and OpenView Venture Partners. For more information, visit www.unboundid.com.

About Compass Intelligence

Compass Intelligence, a global consulting and strategy acceleration firm, specializes in segment and vertical market intelligence for the high-tech and telecom industries; and offers clients a tailored research experience through excellent customer support. Compass Intelligence provides subscriptions and research reports, insight videos, forecasts, competitive analysis, market data and expert recommendations on multiple markets. Visit Compass Intelligence at www.compassintelligence.com and www.NE2NE.com.

UnboundID is a registered trademark of UnboundID Corp. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.

UnboundID is a registered trademark of UnboundID Corp. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.

Media Contact:
Roman Skuratovskiy
Edelman for UnboundID
roman.skuratovskiy@edelman.com
(650) 762-2835